Search engine startup Perplexity AI has updated its merger proposal to TikTok's parent company, ByteDance, aiming to combine Perplexity with TikTok’s U.S. operations, a source familiar with the matter told Reuters on Sunday.
The revised proposal outlines the creation of a new U.S. holding company, "NewCo," which would manage the merged entities. Under the plan, ByteDance would sell TikTok U.S. to investors, granting TikTok’s existing stakeholders equity in NewCo.
The U.S. government would hold up to a 50% stake in the new company after a future initial public offering (IPO) with a minimum valuation of $300 billion, the source said. ByteDance would retain TikTok's core recommendation algorithm.
Perplexity AI also offered to be acquired by the new entity, provided its investors receive equity distributions in NewCo. CNBC first reported details of the merger proposal.
TikTok services in the U.S. were restored last week after President Donald Trump, following his return to power, lifted the ban on the app, which was previously blocked under national security concerns. ByteDance and the White House have yet to respond to Reuters' requests for comment.
President Trump stated on Saturday that he is engaging with multiple parties over the future of TikTok and expects a decision within 30 days. Earlier this month, Reuters reported that Perplexity AI had submitted an initial bid to ByteDance proposing a merger rather than a direct sale, which the company believes could increase the likelihood of the deal’s success.
Armenian Prime Minister Nikol Pashinyan's party is on course for victory, with Armenian media reporting that the country's Central Election Commission...
Four Palestinians, including an eight-year-old boy, were killed in Israeli strikes across Gaza on Monday (8 June), according to local health officials...
Flights from Shiraz's main airport have been cancelled until 20:00 local time, according to Iranian media, as Iran and Israel continue exchanging stri...
Kazakhstan will require major businesses to introduce five-year water-saving plans as authorities warn that worsening shortages could threaten not onl...
A powerful earthquake struck off the southern Philippine island of Mindanao on Monday (8 June), killing at least 32 people and triggering tsunami war...
The next time a goal goes in during a Champions League final, fans around the world could watch it from every angle at once — frozen, rotated and replayed in ways that were impossible only a few years ago.
North Korea says it has carried out a series of weapons tests involving tactical ballistic missiles, multiple-launch rocket systems and AI-assisted precision cruise missiles, according to the state-run KCNA news agency.
In an era of intensifying strategic competition, many U.S. companies remain heavily dependent on China for both revenue and manufacturing, underscoring the limits of rapid economic decoupling.
South Korean workers manufacturing chips for Samsung Electronics are set to vote on a pay deal that could see some of them receive $416,000 in bonuses.
Counting is underway in Armenia's elections. The results of the vote are set to determine the political direction of the country of three million people for the next few years. Prime Minister Nikol Pashinyan is hoping to fend off challenges from several pro-Russia candidates to secure a third term.
Armenian Prime Minister Nikol Pashinyan's party is on course for victory, with Armenian media reporting that the country's Central Election Commission has completed the vote count in the parliamentary elections. An official announcement is still expected.
Armenian authorities arrested six candidates from the pro-Russian Strong Armenia bloc on Saturday, one day before voters were due to take part in parliamentary elections.
Azerbaijan's Foreign Ministry has confirmed the number of casualties its citizens suffered as a result of the 5 June drone attacks on the cargo ships Natra and Zircon in the Sea of Azov. In a statement, it said four Azerbaijani citizens were killed and four others were injured.
The results of Armenia’s parliamentary elections will determine the makeup of the National Assembly and shape the country's political direction for the foreseeable future. But in Armenia, the final result is not decided by vote percentages alone. Here's how it works.
A French Rafale fighter jet shot down a drone that entered Latvian airspace from Russia on Monday (8 June), triggering security alerts and renewing concerns about the impact of the war in Ukraine on NATO's eastern flank.
Chinese President Xi Jinping arrived in Pyongyang on Monday (8 June) for a rare summit with North Korean leader Kim Jong Un, receiving a grand welcome as he described relations between the two countries as being at a "new historical starting point".
Football fans of all ages gathered in Miami Beach for a World Cup sticker trading event, exchanging duplicates and comparing Panini albums as they prepared for the tournament's opening match.
A city north of Tokyo has suspended classes at all 94 of its primary and middle schools after its first-ever reported bear sighting, amid growing concern over increasing encounters between bears and people across Japan.
A Turkish fishing vessel rescued migrants from a boat in distress in international waters off Malta on Sunday (7 June), after the overcrowded craft capsized in the central Mediterranean.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment