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Ex-Activision Blizzard boss intends to acquire TikTok, presents the idea to Sam Altman
Bobby Kotick, the previous chief executive officer of Activision Blizzard along with some other US entrepreneurs, are ready to purchase TikTok if ByteDance decides to sell. This plan is being formulated as American legislators are contemplating whether to prohibit the app or compel ByteDance to sell it.
Bobby Kotick, who previously served as the CEO of Activision Blizzard and resigned last year, appears to be considering purchasing TikTok. This development coincides with a new U.S. legislation that could potentially outlaw the app or force it to sell.
According to The Wall Street Journal, Kotick had a conversation about potentially purchasing TikTok with OpenAI's leader, Sam Altman, among others, during a meal in the past week. He also shared this idea with ByteDance's head, Zhang Yiming, who is the current owner of TikTok. The sale of TikTok could potentially reach into the hundreds of billions of dollars, as per the report.
Kotick has been in charge of Activision for over three decades.
Kotick's alleged attraction to TikTok arises during a chaotic period for the popular social media platform, as it faces a possible prohibition in the US, one of its biggest markets outside China. US legislators have recently proposed the "Protecting Americans from Foreign Adversary Controlled Applications Act," which could simplify the process of either banning TikTok or separating it from ByteDance.
President Biden has shown willingness to approve the bill if it gets through. The impending legislation, set for a House vote on Wednesday, calls for ByteDance, TikTok's parent firm located in China, to offload the app to a US-based firm or one of its allies. This must happen within six months if ByteDance wants to keep TikTok operational in the US.
If this is not done, TikTok could be taken off from US app stores.
In the wake of rapidly advancing laws, TikTok has been appealing to its vast user base in the US for backing. The app circulated alerts last week, prompting users to reach out to their respective representatives.
It is anticipated that the bill will be approved in the House vote, particularly following its unanimous acceptance by the Energy and Commerce Committee the previous week. Should the House give its approval, the bill will then proceed to the Senate for additional review.
Legislators express worry about the data privacy of TikTok and its connection to China. Nonetheless, The Wall Street Journal hints that the inclusion of Sam Altman in a potential acquisition might cause apprehensions. This is due to the chance that OpenAI might exploit TikTok for training its AI systems. Such a scenario may not be favorable for the users as well.
(Incorporating information from various sources)
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