Investor and entrepreneur Kevin O’Leary, identified for his appearances on “Shark Tank,” introduced on Monday he joined forces with The Folks’s Bid for TikTok in an try and buy the social media platform earlier than the Jan. 19 deadline for a sale.
The Particulars: O’Leary declared the transfer in a press launch stating he would be a part of The Folks’s Bid for TikTok led by Venture Liberty founder Frank McCourt. O’Leary’s earlier try to purchase TikTok, a crowdfunding effort, could be folded into The Folks’s Bid for TikTok.
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“Becoming a member of The Folks’s Bid for TikTok is a chance to take motion on a problem I’m deeply enthusiastic about — defending privateness and creating worth for customers,” mentioned Kevin O’Leary.
“TikTok has immense potential — not simply as a device for creators and companies, however as a cornerstone of a safer, people-centered digital future,” O’Leary added.
O’Leary additionally introduced his partnership with The Folks’s Bid for TikTok on the social media platform X.
What Else: The Supreme Courtroom is about to listen to arguments on Friday on whether or not the proposed TikTok ban violates the First Modification. Congress handed the ban with bipartisan assist earlier this yr and President Joe Biden signed it into regulation in April.
The regulation requires TikTok’s guardian firm, ByteDance, to divest its U.S. operations by Jan. 19 or face removing from app shops within the U.S.
President-elect Donald Trump initially supported a ban of TikTok, however has since modified his stance on the difficulty and has requested the deadline for divestiture be prolonged.
Trump’s lawyer, D. John Sauer, mentioned Trump just isn’t taking a stance on the case’s deserves however would really like the chance to hunt a political answer.
“He respectfully requests that the Courtroom contemplate staying the Act’s deadline for divestment of January 19, 2025, whereas it considers the deserves of this case, thus allowing President Trump’s incoming administration the chance to pursue a political decision of the questions at difficulty within the case,” Sauer mentioned.
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