Jeff Bezos-Backed Perplexity Reportedly Makes $50 Billion Move To Merge With TikTok, But Elon Musk's X Remains This Analyst's Favorite Bidder

Written By Michael Gary Scott

Jeff Bezos-backed Perplexity reportedly bid to merge with TikTok U.S. on Saturday, but Wedbush analyst Dan Ives hinted Elon Musk’s X could ultimately seal the deal amid rising speculation.

What Happened: On Saturday, Perplexity submitted a bid to ByteDance, TikTok’s Chinese parent company, to form a new entity that includes Perplexity, TikTok U.S., and new capital partners, reported CNBC, citing sources familiar with the matter.

The proposed merger would allow most of ByteDance’s current investors to maintain their equity stakes while improving Perplexity’s video capabilities.

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The source estimates the deal’s value to exceed $50 billion, contingent on ByteDance’s shareholders’ decisions to stay or cash out.

Perplexity, a startup challenging Alphabet Inc.‘s GOOG GOOGL Google, saw its valuation soar from $500 million to $9 billion last year.

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Why It Matters: Previously, Tesla Inc. TSLA CEO Elon Musk was considered a potential buyer, though concerns were raised about the impact on the EV giant.

TikTok, which went dark for some time later Saturday started restorning its services on Sunday. Donald Trump “most likely” plans to extend TikTok’s deadline by 90 days to facilitate a deal.

Source: Truth Social

Musk also took to X, formerly Twitter, and highlighted that while his social media app is not allowed to operate in China, banning TikTok in the U.S. would be “against freedom of speech.”

Before Trump’s statement about potentially extending TikTok’s deadline, Ives took to X and predicted that the 90-day window would be used to work on a deal with U.S. tech players, with Musk’s X being a likely candidate.

See also  <!DOCTYPE html><html lang="en"><head> <meta charset="UTF-8"> <meta http-equiv="X-UA-Compatible" content="IE=edge"> <meta name="viewport" content="width=device-width, initial-scale=1.0"> <title>JD.com: Navigating the Investment Landscape</title></head><body><h2>The Ascent of JD.com (JD)</h2><p>Over the past six months, JD.com (JD) has defied gravity with its stock price soaring a notable 12.8%. A feat that shines brighter than the Zacks Internet-Commerce industry (9.8%) and the Retail-Wholesale sector (8.1%) rise. The China-based e-commerce stalwart's journey underscores a tale of resilience and innovation amidst a volatile market landscape.</p><h2>Driving Forces Behind the Success</h2><p>The heart of JD.com's triumph lies in its e-commerce prowess, a domain where it reigns with grace and determination. A diverse array of product categories like electronics and home appliances form the bedrock of customer engagement on its platforms - an orchestra orchestrating a melody of success.</p><p>While JD Retail commands the spotlight, JD Logistics emerges as a silent hero. Its growth, fueled by an expanding fulfillment network, underlines JD.com's commitment to operational excellence and customer satisfaction.</p><h2>Charting a Path to Prosperity</h2><p>JD.com's retail empire is fortified by a robust infrastructure that delivers an unparalleled shopping experience. The strategic alliance with subsidiary Dada amplifies its reach, providing on-demand delivery services that cater to the evolving needs of the discerning Chinese consumer.</p><p>The company's foray into digital marketing and AI-driven strategies elevates its brand presence. By embracing technology, JD.com creates an ecosystem where innovation meets customer expectations, setting a benchmark for its peers.</p><h2>Future Horizons and Challenges</h2><p>As JD.com gazes into the horizon, opportunities and challenges dance in tandem. With a projected revenue growth of 2.5% and earnings set to rise by 8.9% in 2024, the road ahead seems promising.</p><p>However, the specter of competition looms large, especially with giants like Alibaba casting a shadow. Moreover, macroeconomic headwinds paint a picture of uncertainty in the near term.</p><p>Despite the tumultuous seas, JD.com remains a beacon of resilience. Existing shareholders are advised to maintain their course, while prospective investors are urged to observe the unfolding saga before making their voyage into the stock. In this narrative, JD.com holds a Zacks Rank #3 (Hold), inviting contemplation and watchful perseverance.</p></body></html><!DOCTYPE html><html lang="en"><head> <meta charset="UTF-8"> <meta http-equiv="X-UA-Compatible" content="IE=edge"> <meta name="viewport" content="width=device-width, initial-scale=1.0"> <title>The Resilience of Leading Company Amidst Market Volatility</title></head><body>The Resilience of Leading Company Amidst Market Volatility

ByteDance has previously suggested it will not sell TikTok U.S.

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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.

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