Amazon submits bid for TikTok as ban deadline nears

Amazon submits bid for TikTok as ban deadline nears


Guests including Mark Zuckerberg, Lauren Sanchez, Jeff Bezos, Sundar Pichai and Elon Musk attend the Inauguration of Donald J. Trump in the U.S. Capitol Rotunda on January 20, 2025 in Washington, DC. Donald Trump takes office for his second term as the 47th president of the United States. 

Julia Demaree Nikhinson | Getty Images

Amazon submitted a bid to the White House to purchase the social media app TikTok from its Chinese owners, CNBC has confirmed.

The company sent its proposal in a letter this week to Vice President JD Vance and Commerce Secretary Howard Lutnick, according to a source familiar with the matter who asked not to be named because the discussions are confidential. The parties aren’t treating the bid seriously, however, given that it was submitted just days before a deadline staving off a U.S. ban is set to expire, the person said.

Amazon declined to comment.

The e-commerce company’s offer, which was first reported by The New York Times, comes as TikTok’s fate in the U.S. is up in the air. The short-form video app faces another potential shutdown in the U.S. on April 5 if ByteDance, its parent company, can’t reach a deal to divest TikTok’s American operations. Lawmakers passed a bill last year setting a Jan. 19 deadline for the sale, but Trump signed an executive order granting a 75-day extension for a potential deal.

Trump could announce a decision on TikTok’s fate in the U.S. as soon as Wednesday, sources familiar with the situation told CNBC’s David Faber. Mobile technology company AppLovin has also made a bid for TikTok, Faber reported separately, citing sources familiar with the matter.

TikTok has emerged as a major hub for e-commerce as it has poured money into growing its online marketplace, called TikTok Shop. TikTok’s lucrative marketplace, coupled with the app’s more than 170 million users, could be an attractive asset for Amazon. Following TikTok’s success, Amazon launched and then shuttered a short-form video service of its own.

Last August, the two companies formed a partnership that allowed TikTok users to link their account with Amazon and make purchases from the site without leaving the app. The deal attracted scrutiny from lawmakers who were concerned about its potential national security risks.

WATCH: How TikTok Shop is beating Amazon and Temu in social shopping

How TikTok Shop Became The Fastest Growing Social Media Shopping Platform



Source

‘Be autonomous, earn your living, be free:’ Veolia’s CEO on the family legacy that shaped her decisive leadership
World

‘Be autonomous, earn your living, be free:’ Veolia’s CEO on the family legacy that shaped her decisive leadership

Veolia’s CEO reflects on how the ground-breaking women in her family unlocked her career ambitions, why she wishes she had trusted her instincts earlier and why reframing our mindset is key to tackling global sustainability challenges. Estelle Brachlianoff, CEO of Veolia, credits her pioneering family for shaping her confidence and career choices.  “I come from a […]

Read More
South Korea auto stocks rise after U.S. Commerce Secretary confirms tariffs lowered to 15%
World

South Korea auto stocks rise after U.S. Commerce Secretary confirms tariffs lowered to 15%

Overlooking the city with Busan Tower in Yongdusan Park. Nampo-dong, Busan, South Korea. Jungang Yan | Moment | Getty Images Shares of South Korean auto companies rose Tuesday after U.S. Secretary of Commerce Howard Lutnick confirmed that lower U.S. auto tariffs of 15% on South Korea would retrospectively come into effect, starting Nov. 1. “We […]

Read More
Trump administration to inject up to 0 million into chip laser startup xLight
World

Trump administration to inject up to $150 million into chip laser startup xLight

The Trump administration has agreed to take a stake in xLight – a startup seeking to develop free-electron lasers as key to making faster computing chips. Avalon_studio | E+ | Getty Images The Trump administration has agreed to take a stake in xLight – a startup seeking to develop free-electron lasers viewed as key to making faster computing chips. The U.S. Department […]

Read More