Amazon submits a bid at the last minute to buy tiktok before the US ban | Company Business News

Amazon made an effort to buy Tiktok, an official of the Trump administration said Wednesday, in an eleventh hour tone height, as a US ban on the platform will come into effect on Saturday. The official, who was not authorized to comment in public and spoke on the condition of anonymity, said the Amazon offer was made in a letter to Vice President JD Vance and merchant secretary Howard Lutnick. President Donald Trump on the inauguration day gave the platform a postponement, and past a law that was unanimously maintained by the Supreme Court, which said the ban is needed for national security. Under the law, Tiktok’s parent company BiteDance of Tiktok is required to sell the platform to an approved buyer or take offline in the United States. Trump suggested he could expand the break on the ban, but he also said he expected an agreement to be forged by Saturday. The company sent its proposal in a letter to Vice President JD Vance, which said the efforts to sell the US operations of the video platform before a deadline later this week, and Howard Lutnick, Secretary of Trade. But the bid, reported earlier by the New York Times, is not seriously considered seriously, according to the person, who discussed the sales process on condition of anonymity. The company declined to comment. Even if the bids of Amazon do not get in the White House traction, the importance of the company can force other sugars to pay more, pushing more money out of a potential competitor. If you are involved in negotiations, it can also give Amazon visibility on the financial performance of Tiktok, including the Tiktok Shop, an upcoming competitor of Amazon’s online retail business. President Donald Trump is expected to meet with Vance and other top administration officials on Wednesday afternoon to consider proposals for selling Tiktok’s US operations of his Chinese older BiteDance Ltd. The administration weighs other plans, including one that Oracle Corp. and Blackstone Inc. would include and possibly other investors in a joint venture, Bloomberg who was reported earlier. Trump faces a deadline of April 5 for BiteDance to find a buyer for Tiktok’s US operations or to see that the app is banned in the country, although he said he would be willing to extend the deadline as needed. A two -party group of US lawmakers approved the law, who was signed by former President Joe Biden last year to discuss the concern that the Chinese government could collect sensitive data on US citizens. Trump once extended the deadline from an initial date of January 19. Even if he signs off on the proposal, it would still require approval of Tiktok’s parent company and the Chinese government. It is unclear whether bite dance and the Chinese were involved in the conversations. The existence of an Amazon bid has emerged, as Trump was planned to meet with senior officials on Wednesday to discuss the upcoming deadline for a tiktok sales. Trump has millions of followers on Tiktok and has credited the Trendset Platform with the fact that he helps him get traction among young voters. During his first term, he viewed a more skeptical view of Tiktok and issued executive orders in which he prohibited prohibitions with the bite as well as the owners of the Chinese messaging app WeChat. Catch all the business news, corporate news, news reports and latest news updates on Live Mint. Download the Mint News app to get daily market updates. Business NewscompaniesNewsamazon submits the last minute bid to buy tiktok before US ban