Despite Being In Lawsuit With TikTok, Triller Now Becomes A Bidder To Own TikTok

Triller Now A Bidder

The TRUMP Administration (NET NEWS 8/7) followed through on a threat to ban TIK TOK from the U.S. unless it was sold to an AMERICAN entity over security concerns -- and MICROSOFT stepped up to the plate.

And now from the, "business makes strange bedfellows" file comes word that TRILLER another short form video service), which is suing TIKTOK for alleged patent infringement, is now a bidder along with MICROSOFT, ORACLE and supermarket chain WALMART, according to MUSIC BUSINESS WORLDWIDE.

TRILLER CEO MIKE LU confirmed that his LOS ANGELES-based company has made a bid for TIKTOK with backing from LONDON-based investment firm CENTRICUS ASSET MANAGEMENT saying "We believe [TRILLER a,nd TIKTOK’s] two teams can work alongside each other and create the best short form video platform. TRILLER would be the best home for all of TIKTOK’s users as we have always put product and users first. This is the beginning of a new chapter.”

According to a BLOOMBERG report, TRILLER and CENTRICUS’ bid amounts to $20bn, and would see TRILLER acquire TIKTOK’s assets in the US, AUSTRALIA, NEW ZEALAND and INDIA. TIKTOK has been banned in INDIA and AUSTRALIA already. The proposal is comprised of $10bn in cash upfront and a further $10bn in profit-sharing from the consequent venture.

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