Amazon has made a last-minute bid for the popular short-video app TikTok, according to the New York Times. The report comes ahead of an April 5 deadline for a potential TikTok ban.
Even prior to Amazon's reported interest, President Donald Trump was set to be briefed on plans to keep TikTok operational in the U.S. today.
TikTok is available for American users under a temporary reprieve from a 2024 law that bans the short-video app unless the China-based ByteDance divests ownership. Trump delayed enforcement of the ban for 75 days on his first day in office, Jan. 20, allowing TikTok to restart operations for its more than 170 million U.S. users after a brief shutdown.
Oracle has been seen by Wall Street analysts as the likely favorite to take over TikTok's U.S. operations, with backing from new and existing U.S. investors.
Amazon sent a letter expressing interest in TikTok in a recent letter to Vice President JD Vance and Commerce Secretary Howard Lutnick, according to the New York Times. The parties involved in TikTok's negotiations "do not appear to be taking Amazon's bid seriously," the report said.
Amazon Stock Gains
Amazon stock was up 1.6% at 195.27 on the stock market today. Shares pushed higher following the New York Times report. Amazon stock has been slumping since early February.
TikTok operates an e-commerce platform that relies on its short-video app to power sales. Amazon would "make strategic sense" as a TikTok buyer given the strong ties between social media and online shopping, Morgan Stanley analysts argued late last year. Amazon has an existing advertising partnership with TikTok.
One hurdle could be that Amazon is already under antitrust scrutiny.
This is a breaking news story and will be updated.
