Illustration showing the Tiktok application logo on the smartphone screen with the American flag.
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On Sunday, Perplexity AI corrected the merger proposal, which was submitted to his parent company Tiktok, Bytedance. As CNBC found out, a proposal that would create a new entity connecting Perplexity and Tiktok Us, would now also allow the US government to have up to 50% shares in a new company after the future public offer.
The document with a proposal viewed by CNBC, made available to Bytedance and potential new investors, contained detailed information on the creation of the new American Holding Company “Newco”.
The document suggested that Bytedance contribute to Tiktok Us, ignoring its basic recommendation algorithm, in exchange for the fact that current investors of the company will receive capital in a new company. Perplexity AI would have been offered in exchange for receiving the division of Newco capital by their own investors.
Money for a merger would come from “new external capital suppliers (to agree)” – in accordance with the document of the proposal, which would ensure capital for “one -time dividend payment for Bytedance investors in exchange for simplified management” and assistance in the development of a new entity.
AI embarrassment, artificial intelligence Start-up of search engines competing with OpenAI i GoogleHe started 2024 more or less Valuation for $ 500 million and finished the year with a valuation at the level of OK $ 9 billionAfter arousing the growing interest of investors in the face of a boom for generative artificial intelligence – as well Controversy around the accusations of plagiarism. Investors perceive searching for artificial intelligence as one of Google's key threats, because it potentially changes the way consumers gain access to information on the Internet.
Last year Openai, which initiated a frenzy on generative artificial intelligence at the end of 2022 thanks to chatgpt, He introduced the search engine called Searchgpt. Google later “AI reviews” were launched In searching, enabling users to see a quick summary of answers at the top of the results.
The proposed new structure will allow most current Bytedance investors to maintain their shares in the company capital and provide more films for Perplexity, as CNBC informed the source familiar with the situation at the beginning of this month. And although Bytedance publicly suggested will not sell Tiktok US, among other things, that's why Perplexity AI believes that it has a chance to submit an offer – the source added, because the transaction would be a merger rather than sales.
According to the source, according to the amended proposal, the US government could have up to half of the new structure after the first public offer worth at least $ 300 billion.
The fair price is “far above $ 50 billion”, but the final amount attached to the proposal will be partially decided which of the current shareholders of Bytedance wants to remain part of the new entity, and which wants to make a payment, according to the source.
Although any potential transaction between Perplexity AI and Bytedance would probably take months, Mr. President Donald Trump So far, he has temporarily restored Tiktok in the US and suggested plans that would assume the purchase of a company by an American stakeholder, and then sell 50% shares to the US government. In the film published in Tiktok at the beginning of this month, the CEO of Shou ZI Chew said: “I want to thank President Trump for his involvement in cooperation with us in order to find a solution that will ensure the availability of Tiktok in the United States.”
Perplexity is one of many companies and people who want to buy or connect to Tiktok, among which there are apparently Microsoft, Oracle and potentially Elona Muska. On Saturday, President Trump said that he would probably make a decision on the future of the application in the USA in the next 30 days.