Perplexity AI proposes merging with TikTok's US business, with the U.S. government owning up to half.

Perplexity AI has proposed a plan to TikTok's parent company, ByteDance, to form a new entity by merging Perplexity with TikTok's US business. The proposal suggests the US government could own up to 50% of the new entity after an initial public offering valued at least $300 billion. The government's shares would not include voting rights or board seats. ByteDance would contribute TikTok's US business but retain the proprietary algorithm. This proposal aims to address regulatory concerns and maintain ByteDance's ties to TikTok.

2 months ago
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