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Ex-head of Activision Blizzard sets sights on purchasing TikTok, proposed the idea to Sam Altman
A few U.S. entrepreneurs, most notably Bobby Kotick, the ex-chief executive of Activision Blizzard, are considering acquiring TikTok from ByteDance if the Chinese firm is open to selling. This situation arises amidst U.S. legislators contemplating whether to prohibit the app or compel ByteDance to put it up for sale.
Bobby Kotick, the ex-CEO of Activision Blizzard, who resigned from his position the previous year, appears keen on purchasing TikTok. This interest emerges as a fresh piece of legislation in the US poses a risk of either prohibiting the app or forcing it to be sold.
According to The Wall Street Journal, Kotick discussed purchasing TikTok in a collaboration with Sam Altman, OpenAI's leader, and other individuals during a dinner held the previous week. Additionally, Kotick had a conversation about this possibility with Zhang Yiming, the person in charge of ByteDance, the company that owns TikTok. The report suggests that if TikTok were to be sold, its price could potentially be in the hundreds of billions of dollars.
Kotick has been in charge of Activision for over three decades.
Kotick's alleged fascination with TikTok emerges during a period of instability for the popular social media app as it faces a possible prohibition in the US, one of its biggest markets outside of China. US legislators have recently proposed the "Protecting Americans from Foreign Adversary Controlled Applications Act" that would simplify the process for them to either forbid TikTok or separate it from ByteDance.
President Biden has shown willingness to approve the bill if it gets passed. The proposed legislation, set for a House vote on Wednesday, mandates that ByteDance, the Chinese parent company of TikTok, must sell the app to a US-based firm or one of its allied countries within half a year if it intends to keep operating in the US.
If this is not done, TikTok could be taken down from US app stores.
In the meantime, TikTok, responding to rapidly advancing laws, has been calling on its vast US user base for backing. Last week, the app distributed alerts requesting users to engage with their local officials.
The legislation is predicted to get through the House vote, particularly after gaining full support from the Energy and Commerce Committee the previous week. If the House endorses it, the legislation will subsequently progress to the Senate for additional deliberation.
Legislators are worried about the data confidentiality of TikTok and its connection with China. Yet, The Wall Street Journal indicates that if Sam Altman were to participate in a possible acquisition, it could cause apprehension. This is due to the potential for OpenAI to employ TikTok for training its AI systems, which may not be the best scenario for its users.
(Incorporating information from various sources)
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