Blackstone steps away from investors trying to buy TikTok US
Blackstone has stepped away from a group of big investors trying to buy a major chunk of TikTok's US operations.
The consortium—featuring names like Oracle, KKR, and Andreessen Horowitz—wanted Americans to control 80% of TikTok US, with ByteDance still holding a smaller piece.
Deadline for TikTok to sell itself keeps getting pushed
With Blackstone gone, the future of this TikTok deal is even more up in the air.
The group is still talking with the Trump administration, which just pushed its deadline for ByteDance to sell TikTok US back again—now it's September 17, 2023.
This is the third extension and shows how tangled things are between the US and China over tech.
TikTok is still on its own path
Even as all this plays out, TikTok isn't slowing down—they're working on a version of their app just for US users.
Regulators are still worried about data privacy and security.
Still, TikTok pulled in $43 billion in revenue last quarter—outpacing Meta in revenue.
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