Reported about 16 hours ago
Perplexity AI has revised its merger proposal with TikTok's parent company, ByteDance, aiming to create a new joint entity where the U.S. government could hold up to 50% upon an initial public offering. The plan involves forming a new U.S. holding company named 'NewCo,' where ByteDance would divest TikTok's U.S. operations to investors, who in turn would gain equity. The proposal notably excludes TikTok's recommendation algorithm, which ByteDance would retain.
Source: YAHOO