High-profile bidders are continuing to show interest in buying TikTok as the social media platform stands on the verge of being banned again in the U.S. According to Reuters, the latest bidders include Amazon and OnlyFans founder Tim Stokely.
Amazon clarified its desire to buy TikTok with a letter to Vice President JD Vance on Tuesday, per Reuters. However, sources told the New York Times that U.S. officials are not taking Amazon’s bid seriously.
Amazon’s interest in TikTok
Shortly after Amazon made its bid, the company’s shares rose by 2%. Over the years, Amazon has shown interest in owning multiple social media platforms. The tech giant bought video streaming site Twitch in 2014 and book review platform Goodreads the previous year. Amazon also launched a short-form video and photo platform that resembled TikTok. However, that site closed down earlier this year.
What is the plan for OnlyFans founder Tim Stokely to buy TikTok?
Stokely is partnering with several big backers to buy TikTok, Gizmodo reported. The OnlyFans founder is including his publishing platform Zoop in the deal, and he plans to make TikTok stand out as a creator-friendly site.
Who are some of the other bidders trying to buy TikTok?
Kevin O’Leary, the entrepreneur best known for his role on Shark Tank, is working with other financial backers to buy TikTok. O’Leary has publicly said he doesn’t want TikTok’s current algorithm and wants to ensure the app doesn’t collect too much of people’s data. Other bidders include popular YouTuber MrBeast, software firm Oracle and private equity firm Blackstone.
Why may TikTok be banned again and what is Trump saying?
TikTok was banned briefly in January as lawmakers cited security issues related to the Chinese-made app. U.S. officials later announced that an American owner would have to buy the app before April 5 or it would be banned permanently in the country.
President Donald Trump, who the April 5 extension after the app was banned for a short bit of time in January, said he would “like to see TikTok remain alive,” and is reportedly planning to tie a TikTok deal to his tariff plans, per Politico.