Another big twist in the TikTok sell-off saga.
For months MBW has been writing about the rapid emergence of rival US-based social short-form video service Triller, which recently claimed 250m worldwide downloads of its app – and is in the middle of a lawsuit against TikTok alleging patent infringement.
Meanwhile, under pressure from the administration of US President Donald Trump, Chinese TikTok parent Bytedance appears resigned to selling off its app’s operations in the United States and certain other territories, including Australia.
US-based corporations who have expressed interest in acquiring TikTok’s US operations so far include Microsoft, Oracle and supermarket chain Walmart.
Now, Triller has officially joined this list.
Triller CEO Mike Lu confirmed yesterday (August 28) that his Los-Angeles-based company has made a bid for TikTok with backing from London-based investment firm Centricus Asset Management.
Centricus already oversees a global portfolio with $27bn-worth of assets.
Said Lu: “We believe [Triller and TikTok’s] two teams can work alongside each other and create the best short form video platform. Triller would be the best home for all of TikTok’s users as we have always put product and users first. This is the beginning of a new chapter.”
According to a Bloomberg report, Triller and Centricus’s bid amounts to $20 billion, and would see Triller acquire TikTok’s assets in the US, Australia, New Zealand and India.
An incredibly interesting move from the rival platform, if finalised, could Triller create a monopoly over the short form video sharing app world?
Reported By: Jessica Rowe