Andreesen Horowitz is reported to have joined negotiations to potentially help to buy Chinese Tiktok investors ahead of a significant deadline this Saturday.
The capital’s capital -centered enterprise firm, led by President Trump Ally Marc Andreessen, is in talks to buy a TIKTOK action as part of a proposed agreement to rotate the US application operations, the Financial Times reported, citing people acquainted with the issue.
Andreesen Horowitz will partner with a group of existing US investors of TIKTOK BYTOK BYTOK -Sesquehanna, KKR, General Atlantic and Coatue who are looking to take bigger shares in the company’s round version.
The group, which also includes Larry Ellison’s Oracle, is considered the precursor to buying tiktok, as the post -post Charles Gasparino reported.
Representatives for Andreessen Horowitz, Tiktok and White House did not immediately return a comment request.
Trump has until April 5 to find an acceptable buyer for Tiktok after issuing an executive order by delaying the implementation of a federal law that banned the application unless bydance devoted it. The Congress initially took action to fear that Chinese ownership of Tiktok was a risk of national security.
According to FT, Andreessen Horowitz approached a possible investment by “Tiktok advisers and the White House” and “are strongly thinking of making an investment”.
Other assets management firms, including Blackstone Group, are also said to have approached investment.
The law adopted by the Congress demanded that Bytedance completely relocate its shares to Tiktok or face a full ban on the USA A Purchase of Chinese Investors could help the Trump administration sell the Congress to support the agreement.
Feds have said that Beijing can manipulate the TIKK recommendation algorithm to influence public opinion among more than 170 million US users and improperly enter the data to spy on Americans among other charges. Tiktok has denied wrongdoing.
Sen. Tom Cotton (R-Ar.), Which heads the Intel Committee of the Senate, has pressured total relocation from China and expressed concerns about the remaining bydances involved.
However, every tiktok sale should be approved by the Chinese government, and some reports have suggested that Bytedance could hold some of the minorities in Tiktok even after a possible agreement.
Earlier this week, Trump told reporters that his team would announce conditions in a Tiktok deal ahead of Saturday.
“We have a lot of potential buyers. There is tremendous interest in Tiktok,” Trump told reporters late Sunday, according to Reuters. “The decision will be my decision, as you know, through Congress. They have given me the power to make the decision.”
“I would like to see Tiktok remain alive,” Trump added.
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