New Delhi: US-based artificial intelligence (AI) company Perplexity has reportedly submitted a revised proposal to merge with Chinese short-form video platform TikTok.
US President Donald Trump last week signed an executive action that delays enforcement of the nationwide TikTok ban in the US for 75 days.
According to a TechCrunch report, citing sources, the Perplexity arrangement would give the US government up to 50 per cent ownership of the new entity. Perplexity had previously proposed creating a new company by combining itself with TikTok US and additional equity investors. According to reports, under the new bid, the government would receive its stake after an initial public offering of at least $300 million, while TikTok’s current Chinese owner ByteDance could also retain ownership. (IANS)
Also Read: US Supreme Court Upholds ban on TikTok
Also Watch: