Andreessen Horowitz could help buy out TikToks Chinese investors ahead of Saturday deadline: report
Andreesen Horowitz has reportedly joined negotiations to potentially help buy out TikTok’s Chinese investors ahead of a crucial deadline this Saturday.The tech-focused venture capital firm, led by President Trump ally Marc Andreessen, is in talks to buy a stake in TikTok as part of a proposed deal to spin off the app’s US operations, the Financial Times reported, citing people familiar with the matter.Andreesen Horowitz would partner with a group of TikTok parent ByteDance’s existing US investors – Sesquehanna, KKR, General Atlantic and Coatue – who are seeking to acquire larger stakes in the spun-off version of the company.The group, which also includes Larry Ellison’s Oracle, is considered the frontrunner to buy TikTok, as The Post’s Charles Gasparino reported.Representatives for Andreessen Horowitz, TikTok and the White House did not immediately return a request for comment.Trump has until April 5 to find an acceptable buyer for TikTok after issuing an executive order delaying enforcement of a federal law that banned the app unless ByteDance divested.Congress initially took action over fears that TikTok’s Chinese ownership was a national security risk.According to the FT, Andreessen Horowitz was approached about a potential investment by “TikTok’s advisers and the White House” and is “strongly considering making an investment.”Other asset management firms, including Blackstone Group, have also reportedly been approached about making investments.The law passed by Congress required ByteDance to completely divest its stake in TikTok or face a total ban in the US.
A buyout of Chinese investors could help the Trump administration sell Congress on backing the deal.The feds have said that Beijing can manipulate TikTok’s recommendation algorithm to sway public opinion among its more than 170 million American users and improperly access data to spy on Americans, among other allegations.TikTok has denied wrongdoing.Sen.
Tom Cotton (R-Ark.), w...