💨 Abstract
startup Perplexity AI has submitted a merger bid for TikTok's U.S. operations with ByteDance, aiming to create a new entity by combining with New Capital Partners. The proposed structure allows existing ByteDance investors to retain their equity, and Perplexity believes this bid could succeed due to it being a merger rather than a sale. TikTok, which is facing a potential U.S.
Courtesy: theprint.in
Summarized by Einstein Beta 🤖
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