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Ex-CEO of Activision Blizzard, Bobby Kotick, intends to purchase TikTok and has made the proposition to Sam Altman
Several US entrepreneurs, including Bobby Kotick, the ex-chief executive officer of Activision Blizzard, are gearing up to acquire TikTok from ByteDance if the Chinese firm seeks out possible suitors. This is happening at a time when US legislators are considering either prohibiting the application or compelling ByteDance to sell it.
Bobby Kotick, who previously served as the CEO of Activision Blizzard and resigned last year, appears to be considering a purchase of TikTok. This interest emerges as a new US regulation poses a risk either to prohibit the app or to compel it to sell its own platform.
According to The Wall Street Journal, Kotick discussed a potential partnership to purchase TikTok with OpenAI's leader, Sam Altman, and others at a dinner last week. He also discussed the proposition with ByteDance's chief, Zhang Yiming. ByteDance is the current owner of TikTok. The report suggests that the sale of TikTok could reach into the hundreds of billions of dollars.
Kotick has been in charge of Activision for over three decades.
Kotick's alleged curiosity in TikTok occurs during a tumultuous period for the popular social media app, as it faces the possibility of being prohibited in the US, one of its biggest markets apart from China. US Legislators have recently proposed the "Protecting Americans from Foreign Adversary Controlled Applications Act," simplifying the process for them to either outlaw TikTok as a platform or separate it from ByteDance.
President Biden has expressed his willingness to approve the bill if it gets passed. The proposed legislation, set for a House vote on Wednesday, mandates that ByteDance, TikTok's Chinese parent company, must sell the app to a US-based company or one of its allies within half a year if it seeks to carry on its operations in America.
If this is not done, TikTok could be taken down from US app stores.
In the wake of rapidly advancing laws, TikTok is appealing to its multitude of American users for support. Last week, the app issued alerts, prompting users to reach out to their lawmakers.
It is anticipated that the bill will clear the House vote, particularly after getting the full support from the Energy and Commerce Committee the previous week. Should the House approve the bill, it will then proceed to the Senate for more deliberation.
Legislators are worried about the data privacy issues of TikTok and its connection with China. Still, The Wall Street Journal indicates that if Sam Altman were to be part of a possible acquisition, it could cause unease. This is due to the potential that OpenAI might utilize TikTok to educate its AI models, a scenario that might not be suitable for its users.
(Incorporating information from various sources)
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