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Perplexity AI has submitted a revised proposal to ByteDance, TikTok's parent company, suggesting a merger between Perplexity and TikTok's U.S. operations. The proposal includes granting the U.S. government up to a 50% ownership stake in the new entity, aiming to address national security concerns and prevent a potential U.S. ban on TikTok.

Key Highlights:

• Formation of 'NewCo': The proposed new holding company, referred to as "NewCo," would exclude TikTok's core recommendation algorithm, which ByteDance would retain. ByteDance would divest TikTok U.S. to investors, allowing existing TikTok investors to receive equity in NewCo. Perplexity AI could also be acquired by NewCo, with its investors receiving equity in the new entity.

• Initial Public Offering (IPO): The proposal outlines an IPO for NewCo, valuing the company at a minimum of $300 billion. The U.S. government would acquire non-voting shares, resulting in up to a 50% ownership stake, but without a board seat.

• Addressing National Security Concerns: This proposal aims to navigate national security issues that previously led to TikTok's suspension in the U.S. under President Trump. The structure seeks to comply with U.S. legislation banning TikTok unless its ties with ByteDance are severed, citing concerns over data sharing with China.

My Take:

Perplexity AI's proposal represents an innovative approach to resolving the ongoing concerns surrounding TikTok's operations in the U.S. By creating a new entity with significant U.S. government ownership and excluding sensitive algorithms, the plan attempts to balance national security interests with the platform's continued availability to American users. However, the success of this proposal will depend on acceptance from ByteDance, approval from U.S. regulatory bodies, and the practicalities of implementing such a complex corporate restructuring.

Perplexity AI Proposes Merger with TikTok U.S., Offering U.S. Government a 50% Stake

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