The News
US President Donald Trump will weigh bids by American firms to take over TikTok on Wednesday, ahead of a weekend deadline for its Chinese owners to divest the app.
Investment firms Blackstone and Andreessen Horowitz, as well as tech giant Oracle, are among those reportedly looking to acquire a stake in the videosharing platform.
Investors have yet to agree on a price tag, according to the Financial Times, while Bloomberg said it was unclear who would ultimately end up with TikTok’s algorithm, seen as crucial to any sale.
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US national security hawks argue TikTok’s popularity and its Chinese ownership make it a threat, but while Trump previously made that argument, he has since spoken in favor of the app.
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