Hold onto your freakin' hats. CNBC is reporting that a few hours ago, Perplexity made a bid to merge with TikTok. Here's what you need to know: You know that TikTok is threatening to go dark on Sunday - hours away - due to the shutdown imposed by the US Supreme Court. President-elect Trump has indicated he'll likely give TikTok 90 more days to work out a deal after taking office Monday. ByteDance has said they won't sell TikTok US. That's why Perplexity structured this as a merger rather than an acquisition. The final price will depend on how many ByteDance shareholders want to stay versus cash out. The proposal (according to the fantastic CNBC reporter Hayden Field): This would create a new entity combining Perplexity, TikTok US, and new capital partners. The deal would allow ByteDance's existing investors to keep their stakes. Some numbers to consider: - Perplexity started 2024 at $500M valuation - They ended 2024 at $9B - The proposed deal is valued "well north of $50B"
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