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Triller Partners An Investment Firm In $20B Bid For TikTok’s US operations

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Triller and London-based global investment firm, Centricus, are the latest in line to consider taking over TikTok’s US operations. The duo tabled a $20 billion bid in an effort to acquire the embattled video app according to Bloomberg.

 

Triller joins Oracle, a joint Microsoft / Walmart and Twitter effort to buy over TikTok’s operations in the US. Triller confirms that it submitted its bid directly to TikTok’s parent company, ByteDance.

 

We submitted an offer directly to the chairman of Bytedance through Centricus and have confirmation it was received. We didn’t make an offer to TikTok, they aren’t involved in this at all, We made an offer to Bytedance and are dealing directly with the chairman only.

 

“Either people multiple layers down aren’t aware of what is happening on the highest level or they may have their own agendas and aren’t happy about our offer coming in,” Triller executive chairman Bobby Sarnevesht said in a statement.

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However, in a weird twist, a TikTok spokesperson told Reuters it has not received an offer. The spokesperson also denies ever been contacted about a potential bid.

 

According to Bloomberg, the Triller/Centricus offer to TikTok parent company ByteDance involves $10 billion in cash upfront, and another $10 billion in shared profit for taking over TikTok’s operations in the US, Australia, New Zealand, and India. Centricus will reportedly have a minority stake in the joint venture.

 

TikTok has until September 2020 when the executive order by the Trump administration banning it comes into effect. The Trump administration issued the executive order against the company citing national security concerns.

 

Microsoft/Walmart, Twitter, Netflix, Oracle, and now Triller and Centricus have signified their interests in buying the company’s US operations.

 

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