Perplexity Eyes TikTok U.S. Merger in Major Bid
New Deal on the Horizon: Jeff Bezos’ supported startup Perplexity has made headlines after reportedly submitting an intriguing proposal to ByteDance, the parent company of TikTok, to merge with TikTok U.S. and other capital partners. This bid came over the weekend, sparking a wave of speculation regarding the future of TikTok amidst shifting ownership considerations.
The merger is designed to keep equity stakes for most of ByteDance’s current investors intact, while simultaneously enhancing Perplexity’s capabilities in video content.
Financial Implications: Sources estimate that this potential deal could exceed a whopping $50 billion, depending on whether ByteDance’s shareholders opt to retain their shares or liquidate them.
In a notable rise, Perplexity’s valuation jumped from $500 million last year to an impressive $9 billion as it seeks to carve out a niche against tech giant Alphabet Inc.’s GOOG GOOGL Google.
Market Dynamics: Previously, aspirations for
