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Revised merger proposal for tiktok perplexity
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Photo illustration of the Tiktok application logo on a smartphone screen displayed with the American flag.
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Perplexity AI revised the merger proposal he had submitted to Tiktok Parent Bytedance on Sunday. The proposal, which would create a new entity combining the perplexity and Tiktok US, would now also allow the US government to have up to 50% of the new company on a future IPO, CNBC learned.
A proposal document seen by CNBC, which was shared with Bytedance and new potential investors, detailed the creation of a new American portfolio company, “Newco”.
The document proposes that Bytedance contributes Tiktok US, less its basic recommendation algorithm, in exchange for existing investors from the company receiving equity in the new company. Perplexity AI would be in exchange for its own investors receiving a distribution of Newco's actions.
Money for the merger would come from “new third -party capital supplier (to be found to be mutually)”, according to the proposal document, which would provide capital for “single dividend payment to Bytedance investors in exchange for simplified governance” and for Help the new entity to grow.
Perplexity ai, The Artificial Intelligence Search Engine Startup Compasting With Openai and Google, Started 2024 With a Roughly $ 500 million Valuation and Ended the Year with a Valuation of About $ 9 Billion, after attracting include investor Investor Interest Amid the Generative Ai Boom As Wel accusations of plagiarism. Investors considered AI assisted research as one of Google's key risks, as it potentially changes the way consumers have accessed online information.
Last year, Openai, who launched the generative enthusiasm of the AI at the end of 2022 with Chatgpt, presented a search engine called Searchgpt. Google later launched “IA glimps” during research, allowing users to see a quick summary of responses at the top of the results.
The new proposed structure would allow most existing investors from Bytedance to keep their share participation and bring more video to Perplexity, a source familiar with the situation said CNBC earlier this month. And although Bytedance has suggested that he would not sell Tiktok us, why Perplexity has thought of having a chance with his offer because the agreement would be a merger rather than a sale, added the source.
According to the source, under the revised proposal, the US government could have up to half of the new structure once it is at least $ 300 billion, according to the source.
A fair price is “well north of $ 50 billion”, but the final number attached to the proposal will be decided, in part, by which the existing shareholders of Bytedance wish to be part of the new entity and who wish to withdraw, according to the source.
Although any potential transaction between Perplexity IA and Bytedance would probably take months to finish, President Donald Trump has so far restored Tiktok in the United States and has suggested plans that would involve an American player buying the company, then selling participation 50% in the United States government. In a video published on Tiktok earlier this month, CEO Shou Zi Chew said: “I would like to thank President Trump for his commitment to work with us to find a solution that keeps Tiktok available in the United States.”
Perplexity is one of the multiple companies and individuals in the running to be the one to buy or merge with Tiktok, which would include Microsoft, Oracle and potentially Elon Musk. President Trump said on Saturday that he would probably have a decision on the future of application in the United States in the next 30 days.
Sources 2/ https://www.cnbc.com/2025/01/26/perplexity-tiktok-revised-merger-proposal.html The mention sources can contact us to remove/changing this article |
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