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Venture Capital Firm Reportedly Eyes TikTok Investment Amid Oracle-Led Bid
A prominent venture capital firm is reportedly considering an investment in TikTok as part of a proposed acquisition led by Oracle and other U.S.-based investors. This potential deal aims to acquire TikTok from its parent company, ByteDance, according to a report in the Financial Times.
TikTok’s Looming U.S. Ban
TikTok is facing a renewed threat of being prohibited in the United States starting April 5, unless its China-based owner, ByteDance, divests its American operations to an entity with non-Chinese ownership. The Oracle-backed bid is currently considered a leading option for averting this ban, as indicated by the Financial Times.
Andreessen Horowitz’s Social Media Track Record
Andreessen Horowitz, the venture capital firm in question, possesses a significant history of investing in social media platforms. The firm was an early backer of both Facebook and Instagram. More recently, it contributed $400 million to support Elon Musk’s acquisition of Twitter. When contacted for comment on the potential TikTok investment, Andreessen Horowitz did not immediately respond.