By Dana Mattioli, Jessica Toonkel and Alex Leary
Mobile technology company AppLovin APP 1.84%increase; green up pointing triangle has made a bid for TikTok and talked to casino magnate Steve Wynn about backing it, according to people familiar with the matter, joining a flurry of suitors for the video-sharing app.
The Trump administration’s April 5 deadline to sell or shut down TikTok is fast-approaching, and the president will be briefed Wednesday on a framework that would keep it operational. The geopolitically fraught dealmaking process ultimately requires Beijing’s blessing and is playing out as Trump rolls out his new broad tariff plans.
AppLovin, which some analysts have said could be the next TikTok because of its powerful artificial intelligence that can collect data on app users and use it to tailor ads, has a market cap of $100 billion. AppLovin’s pitch to the Trump administration was that it could solve national security concerns and unleash economic growth as a job creator, according to a person familiar with the matter. Wynn couldn’t immediately be reached for comment.
Casino magnate Steve Wynn PHOTO: PATRICK T. FALLON/BLOOMBERG NEWS
The president is expected to review a plan in which cloud computing company Oracle ORCL 2.41%increase; green up pointing triangle, along with several others, would join with existing U.S. investors to make an offer to TikTok-owner ByteDance, according to people familiar with the matter. Private-equity firms Silver Lake and Blackstone are among the investors in talks to potentially participate in a deal, the people said.
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