US venture capital giant Andreessen Horowitz is in talks to invest in social media platform TikTok as part of an effort led by Donald Trump to wrest control of the popular video app from its Chinese owners.
The venture capital group, whose co-founder Marc Andreessen is a vocal supporter of the US president, is in talks to add new outside investment that will buy out TikTok’s Chinese investors, as part of a bid led by Oracle and other American investors to carve it out of its parent company ByteDance.
There was no consensus on the price tag for TikTok yet, according to two people directly involved in the bid, although they added that the US arm was likely to be valued based on its sales. Revenues in 2024 stood at $36bn globally, excluding China, with the US accounting for about a third of that, they said.