Perplexity Said to Submit Bid to Merge With TikTok’s US Unit
TikTok’s China-based parent company is required to find a buyer for its US operations or face a shutdown on Sunday under the law.
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Perplexity AI submitted a bid to TikTok parent ByteDance Ltd., to merge with its US operations and create a new entity, according to a person with knowledge of the matter.
The structure would allow most of ByteDance‘s existing investors to retain their stakes, according to CNBC, which cited a person with knowledge of the situation, and reported on the bid earlier Saturday.