2 months, 2 weeks ago

Perplexity AI revises merger proposal with TikTok, offers 50% equity to US, ByteDance to retain algorithm: Report

Aravind Srinivas' Perplexity AI has revised its merger proposal with TikTok owner ByteDance to create a new joint company, Reuters reports. ByteDance would reportedly sell TikTok US to the investors, giving the company's existing investors an equity stake in the new structure. As things stand, the legality of Trump's executive order is not yet clear, as the ban on TikTok came into effect on January 19, and the short-video app remains unavailable for download on Google's Play Store and Apple's App Store. TikTok's Chinese owner ByteDance is said to retain a minority stake in the company, but the reported deal could see the app's algorithm, data collection and software updates controlled by Oracle.

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