AppLovin ‘bids for TikTok’ in all markets outside of China
Summary
The company announced a preliminary bid on Thursday, adding to a list of potential acquirers, including Amazon, Blackstone, and a consortium led by OnlyFans founder Tim Stokley, Reuters reported. The news agency said that it had viewed AppLovings regulatory documents, which confirm its interest in acquiring TikToks non-China operations, with the company stressing that there is no guarantee that the transaction will be completed. "The addition of TikTok could accelerate AppLovins transition into a global advertising powerhouse, but regulatory and geopolitical complexities remain a critical variable for investors," Michael Ashley Schulman, chief investment officer at Running Point Capital told Reuters. TikTok has repeatedly denied being influenced by the Chinese government and claims the law banning its operation in the US violates users’ first amendment right to free speech as the platform is one of the most popular in the country for political discourse, commerce, and creative expression. The regulator said at the time that it has concerns about social media and video sharing platforms using data generated by childrens online activity in their recommender systems, which could lead to young people being served inappropriate or harmful content.
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