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Bobby Kotick, the ex-CEO of Activision Blizzard, is considering purchasing TikTok and has presented his plan to Sam Altman. This move by the American entrepreneur comes in the wake of potential plans by US legislators to either prohibit the app or compel ByteDance, the Chinese parent company, to sell it.
Bobby Kotick, the ex-chief executive officer of Activision Blizzard, who resigned last year, appears to be considering the purchase of TikTok. This is in response to a recent US legislation that may either outlaw the application or force it to be sold.
According to The Wall Street Journal, Kotick spoke about potentially purchasing TikTok in partnership with Sam Altman, the leader of OpenAI, and others during a dinner last week. He also conversed about this possibility with Zhang Yiming, the chief executive of ByteDance, the parent company of TikTok. The report suggests that if TikTok is sold, its value could reach hundreds of billions of dollars.
Kotick has been at the helm of Activision for over three decades.
Kotick's rumored involvement with TikTok comes during a challenging period for the well-known social network. It is currently facing the possibility of being banned in the US, which is one of its biggest markets outside China. US legislators have recently put forward the "Protecting Americans from Foreign Adversary Controlled Applications Act." This would simplify the process for them to either prohibit the use of TikTok or separate it from ByteDance.
President Biden has expressed his willingness to approve the bill if it gets passed. The proposed legislation, which is up for a vote in the House this Wednesday, mandates that ByteDance, the Chinese parent company of TikTok, must sell the app to a US-based company, or one from an allied country, within half a year if it desires to keep running its operations in the US.
If this is not done, TikTok could be taken off from the US app markets.
In the meantime, TikTok is appealing to its numerous American users for support due to the rapidly progressing laws. Last week, the app distributed alerts, requesting users to get in touch with their lawmakers.
The legislation is anticipated to get the green light in the House voting, particularly after it was unanimously endorsed by the Energy and Commerce Committee the previous week. If the House gives the nod, the legislation will proceed to the Senate for additional review.
Legislators are worried about TikTok's data protection and its connections to China. But The Wall Street Journal implies that if Sam Altman becomes part of a potential acquisition, this might trigger some apprehensions. This is due to the potential for OpenAI to utilize TikTok for training its AI systems, a situation that may not be favorable to users.
(Incorporating information from various sources)
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