Perplexity AI submits bid to merge with TikTok

With a TikTok ban in the US, Perplexity AI is the latest bidder hoping to give the video app a new corporate home.

CNBC first Perplexity is reported to be of interest. A source with knowledge of the offering confirmed to TechCrunch that Perplexity (whose CEO Arvind Srinivas is pictured above) has submitted a bid to merge with TikTok US.

The source also confirmed other details about the bid — that it would create a new entity comprising Perplexity, TikTok and new equity partners; Most investors in TikTok’s parent company ByteDance will be able to retain their equity; And by combining this, Perplexity hopes to bring more videos to its AI search engine.

A law requiring ByteDance to sell TikTok or see it banned in the US is set to take effect on Sunday, January 19. This will be President Joe Biden’s last day in office, and his administration officials say that It will leave the actual implementation of the ban “To the next administration.”

Meanwhile, President-elect Donald Trump, who will be inaugurated on Monday, said: “Probably” gives TikTok a 90-day extensionand CEO of TikTok He posted a video thanking Trump for his efforts.

However, TikTok said that without more explicit assurances from the Biden administration not to enforce, It will be “bound to be dark”. sunday

Despite several buyers expressing interest in TikTok, ByteDance has repeatedly said it has no intention of selling it. (A report from the company described that The Chinese government is open to an acquisition by Elon Musk “As pure fiction.”) CNBC reports that Perplexity hopes it can overcome those reservations by offering a merger rather than a sale.

TechCrunch has reached out to TikTok and Perplexity AI for comment.