In brief ...
📱 AppLovin submits bid for TikTok, pitching its AI capabilities and economic potential to the Trump administration.
🎰 Casino mogul Steve Wynn was approached to help back the bid, as Washington pushes for a U.S.-led acquisition.
🇨🇳 Beijing’s approval remains a key hurdle, amid escalating U.S.-China tensions and looming tariff announcements.
With the U.S. government’s April 5 deadline to either sell or shut down TikTok rapidly approaching, a new suitor has entered the fray: mobile tech powerhouse AppLovin, the Wall Street Journal reports.
The $100 billion company has reportedly made a bid for the video-sharing giant and held discussions with casino magnate Steve Wynn about providing financial backing, according to people familiar with the matter.
AppLovin, known for its powerful artificial intelligence that helps tailor ads and analyze user behavior, is positioning itself as a domestic solution to national security concerns over TikTok’s Chinese ownership. The company claims it could not only protect user data but also spur economic growth by creating jobs in the U.S.
Meanwhile, President Trump is expected to be briefed Wednesday on a framework to keep TikTok operational under American oversight.
Growing list of bidders
AppLovin joins a growing list of bidders. Oracle, in partnership with U.S. investors such as Silver Lake and Blackstone, is preparing a competing offer. Amazon also submitted a last-minute bid, according to sources, though insiders suggest the White House doesn’t see it as likely to move forward. An Amazon spokesperson declined to comment.
While the White House seeks a resolution to its TikTok standoff, Chinese officials have signaled conditional openness to a deal. However, sources say Beijing views TikTok’s fate as one of several issues to negotiate with Washington—alongside Trump’s upcoming tariff proposals, also expected to be announced Wednesday.
Details of how TikTok would operate under a new ownership structure remain unclear, but sources say those decisions will likely follow once a deal framework is finalized.