Will TikTok creators hang up their dancing shoes for good? Not if these influential investors have anything to say about it
This question has been circulating for months, as the future of the popular social media app remains uncertain. Who’s still in the running towards becoming America’s TikTok mogul? Who have declared themselves out?
A diverse range of potential buyers has emerged, from tech giants to internet entrepreneurs, in the ongoing saga of TikTok's possible—though improbable—sale. This diversity reflects the platform's broad appeal and the various ways it could be leveraged. Some potential buyers may be interested in integrating TikTok's technology into their existing businesses, while others may see an opportunity to build a new media empire.
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Actively pursuing a bid
Frank McCourt and Kevin O'Leary (Project Liberty)
Frank McCourt, a figure known for his real estate ventures and previous ownership of the Los Angeles Dodgers, has joined forces with Kevin O’ Leary, also known as Mr. Wonderful to fans of Shark Tank, in pursuit of acquiring TikTok.
Their efforts are channeled through McCourt’s initiative, Project Liberty, an organisation dedicated to fostering a more decentralised and user-empowered internet. This partnership has emerged as the most publicly vocal group in the potential TikTok acquisition, presenting what appears to be a well-structured plan.
Project Liberty’s core mission centers on establishing a more equitable and user-focused digital landscape, directly addressing anxieties surrounding the concentrated influence of major technology corporations and the pressing need for enhanced data protection.
O’Leary’s participation adds significant financial expertise and a recognisable public presence to the endeavor, likely attracting further investment. They have publicly declared their aim to present a superior offer compared to any other competing bids.