Perplexity AI Proposes Merger with TikTok’s Parent ByteDance to Form New Company
The merger plan between Perplexity AI, a U.S. search engine startup, and ByteDance, the parent firm of TikTok, has been changed to create a new compan
The merger plan between Perplexity AI, a U.S. search engine startup, and ByteDance, the parent firm of TikTok, has been changed to create a new company that will unite Perplexity and TikTok U.S. Under the plan, a new U.S. holding company called "NewCo" would be established, with the goal of the U.S. government owning up to 50% of the latest business at its subsequent initial public offering IPO. New investors would purchase TikTok U.S. from ByteDance, omitting the apps core recommendation system. According to the plan, the IPO will be valued at least $300 billion. With TikTok services recently restored in the United States, Perplexity AIs updated bid demonstrates its conviction that a merger rather than a sale could increase the likelihood of success.
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B2B Tech News | 10 days ago