💨 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 🤖