Perplexity AI, a U.S. search engine startup, has proposed a merger with TikTok U.S. to create a new entity in an attempt to prevent a looming U.S. ban on the popular short-video social media platform. The proposed merger would combine Perplexity AI, TikTok U.S., and New Capital Partners.
Perplexity AI, a U.S. search engine startup, has proposed a merger with TikTok U.S. to create a new entity in a bid to avert a looming U.S. ban on the popular short-video social media platform. CNBC reported on Saturday that Perplexity AI has reached out to ByteDance, TikTok's Chinese parent company, with the proposal. The merger would combine Perplexity AI, TikTok U.S., and New Capital Partners, a venture capital firm.
The proposed structure aims to allow most of ByteDance's existing investors to maintain their equity stakes while integrating TikTok's vast video content into Perplexity AI's search engine. Perplexity AI believes its proposal has a higher chance of success compared to a direct sale, as it offers a more collaborative approach. The report cited an unnamed source familiar with the situation. TikTok faces a U.S. ban starting Sunday if it doesn't sever ties with ByteDance. However, President-elect Donald Trump has indicated a possible 90-day reprieve for the platform on Monday. Meanwhile, TikTok expressed its readiness to go dark in the U.S. if the Biden administration cannot provide assurances to companies like Apple and Google regarding potential legal ramifications when the ban takes effect. Perplexity AI's search tools are powered by large language models and provide users with quick answers to questions, accompanied by sources and citations. Their technology draws from various sources, including OpenAI and Meta Platforms' open-source model Llama.
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