Amazon.com Inc (NASDAQ:AMZN) has reportedly made a last-minute bid to acquire TikTok's US assets, according to a New York Times report citing sources with knowledge of the matter.
This comes as TikTok faces an April 5 deadline to divest from its Chinese parent company, ByteDance, or risk being banned in the US due to national security concerns.
The New York Times reported that Amazon’s bid is not being seen as a serious contender.
Other potential buyers include Oracle and private equity firms like Blackstone, with some proposals suggesting a joint venture or new American investors instead of a full sale.
Amazon’s bid was made via a letter addressed to Vice President JD Vance and Commerce Secretary Howard Lutnick, the report added
Shares of Amazon traded nearly 2.2% higher at about $196 following the report.