MrBeast is officially bidding for TikTok
YouTube and TikTok star MrBeast is part of a group of investors looking to buy TikTok, as a 75-day deadline approaches for the social media company to find a non-Chinese owner or face permanent ban.
On January 13th, but despite his joking tone, Donaldson, who is the most popular YouTuber and third-most popular TikToker, had a serious message, his lawyer told on Tuesday.
The bid from Donaldson, joined by a group of investors, is the latest development in a dramatic few days for TikTok.
It became dark by Saturday night as a nationwide ban was looming, but it was back online about 12 hours later, following a statement from President Donald Trump that he would sign an executive order to delay the ban for 75 days.
Two days after posting on X, Donaldson posted a video on TikTok, in which he expressed his intent to acquire the social media platform.
My legal representative is right here, and we have a proposal ready to go, we're interested in acquiring the platform.
Unless the Chinese company sells to a company based in another country, a spokesperson for the law firm that represents the consortium in the bid has stated that to .
The investment group, headed by Jesse Tinsley, the founder and CEO of Employer.com, comprises "institutional investors and high-net-worth individuals" who don't want the app to be taken offline.
The proposal would not affect TikTok's operations and would ensure a continuous use experience for its 170 million American users, the investor group states.
The statement did not provide the size of the bid.
Time is running out
.
Unless ByteDance, its parent company, sells the TikTok platform to a non-China-based company.
As a message on the app read: "Sorry, TikTok isn't available at the moment. A US law has been passed that bans TikTok. As a result, you can't use the app for now."
The app was back online after Trump announced he would issue an executive order following his inauguration Monday to "extend the time period before the law's restrictions go into effect."
While the executive order, signed Monday evening, puts off enforcement of the TikTok ban for 75 days, it doesn't help long term.
ByteDance will either sell the company to a new buyer, even though it has already said it has no plans to do so, or the Trump administration would have to pass a new law to change the previous one, a highly unlikely scenario since the current law received a lot of bipartisan support in Congress.
TikTok is generating a lot of buzz.
has not independently verified the details of this report and is awaiting responses to its inquiries from ByteDance and Elon Musk.
The group "The People's Bid for TikTok," which includes businessman Kevin O'Leary from Shark Tank and billionaire Frank McCourt, has also made a bid to purchase TikTok.
The People’s Bid is supported by investments from Guggenheim Securities and internet inventor Tim Berners-Lee.
TikTok's American assets, excluding its algorithm, are estimated to be worth between $40 billion and $50 billion, according to Dan Ives, an analyst with Wedbush Securities.
Estimating a precise dollar value of TikTok is challenging for the company, as its algorithm is a major contributor to its worth.
He estimated the value of the assets to be approximately twenty billion dollars.
"We will withhold the financial details of our proposal until ByteDance is able to evaluate it," O'Leary and McCourt's group said in a statement last week.
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