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American AI company Perplexity AI has made a new offer to buy TikTok’s American business. According to this, the company will buy most of the stake of American TikTok for $300 billion (more than Rs 25 lakh crore). In this, 50% stake of the company will be with the US government.
However, despite having half the stake, the US government will not get a place in the board nor will it have the right to vote on decisions. TikTok’s Chinese parent company ByteDance will also retain some stake in it. According to news agency PTI, there is a plan to merge TikTok and Perplexity in this offer. It has been introduced last week.
Earlier, Perplexity had also made an offer on January 18. However, Donald Trump’s administration had asked for some amendments in it. After this it has been prepared again.
The Chinese company did not respond TikTok and Chinese parent company ByteDance have not responded to Perplexity AI’s offer. According to the offer, ByteDance will also have a stake in American TikTok. However, it would have to accept full control of the American board.
In the previous offer, Perplexity had talked about merging TikTok’s American business with the company and involving investors. Even at that time ByteDance did not react to this offer.
Earlier, US President Donald Trump had said on Saturday that he is in talks with several people to buy TikTok and will take a decision on its future in the next 30 days.
Crisis on TikTok in America TikTok is in danger of being shut down in America. In April 2024, President Biden signed a law stating that TikTok’s parent company ByteDance would have to hand over the ownership of the app to an American buyer within 9 months and only then could it survive in America. This deadline ended on January 19.
Earlier on January 17, the US Supreme Court had upheld the ban on TikTok citing national security concerns. After this it was closed on 19 January. However, after Donald Trump’s executive order, it got an extension of 75 days.
Indian-origin Arvind Srinivas, CEO of Perplexity AI Perplexity AI is a search engine that answers questions using large language models (LLMs). Arvind Srinivas of Indian origin is the CEO and co-founder of this company. He founded this company in the year 2022 with Andy Konwinski, Dennis Yarats and Johnny Ho.
Srinivas has previously worked as a researcher at OpenAI and has also done research internships at Google and DeepMind.
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