.Rival of TikTok, Walmart TrillerTok, and investment firm Centricus have made a $20 billion bid for the video-sharing app, adding to a list of suitors that includes software giant Oracle and a partnership between Microsoft and Walmart. This month President Donald Trump warned that he wants to ban the TikTok app in the U.S. He then also instructed Byte Dance to sell its U.S. assets giving national security concerns as a reason. The executive order issued by Trump states mid-September as the deadline for TikTok to be sold or be banned in the U.S.
Another order commanded Byte Dance to sell TikTok U.S. assets within 90 days. The order also demands that the buyer of TikTok’s U.S. be a company of American origin which makes it difficult for Centricus even with Triller involved. Microsoft was the initial possible buyer for TikTok’s in the U.S. late last month. But other potential suitors like Twitter Inc. and Alphabet Inc. have contemplated bidding for TikTok’s U.S. assets, but Oracle and Microsoft appear to be the most serious ones.
What is happening?
Walmart, Trillertok, and Centricus are considering to acquire the assets of TikTok not only in the U.S., but also in Australia, India, and New Zealand.
The authenticity of the report is in question, as while a Centricus has confirmed the offer to Bloomberg, TikTok, and parent ByteDance have no idea of its existence.
The order requires ByteDance to destroy all the user data acquired by TikTok and its predecessor Musical.ly. Meanwhile, a lawsuit has been filed against Trump’s order by TikTok. The popular app will have to deal without its CEO with Trump as Kevin has stepped down from the position.
Centric will join hands with U.S.-based Triller, another video, and a music-based social networking app.
According to the proposal, Centricus would pay $10 billion upfront in cash. And the next half will be through profit-sharing after the venture is successful. On Thursday Walmart has also joined Microsoft’s bid.
When asked about a Centricus and Triller bid, a TikTok spokesperson replied, “What’s Thriller?” Another spokesperson called the potential deal “preposterous.”
This is all so absurd. Everybody is so confused. Azure Walmart Trillertok nothing makes any sense. But let’s wait on more updates.
What do you think about this absurd business deal? Comment below.