News roundup: TikTok's US-only app, Elon's America Party, Oracle's fed discount, Meta wins AI copyright suit
Key Points
- ByteDance is building a US-only TikTok app called M2, set to launch September 5th ahead of the ban deadline, as part of a broader sale of TikTok's American business to local investors.
- Reported deal investors include Andreessen Horowitz, Larry Ellison, and Oracle, though stake sizes and deal structure remain undisclosed.
- A Polymarket tracking a TikTok sale announcement jumped to 45% probability after the M2 news, reflecting investor expectations that a domestically controlled version could sidestep forced shutdown.
Summary
ByteDance is building a US-only TikTok app called M2, reportedly set to launch September 5th, a week before the long-delayed TikTok ban takes effect. The app would come as part of a sale of TikTok's American business to local investors, with negotiations between Washington and Beijing ongoing.
A Polymarket tracking a TikTok sale announcement in 2025 currently prices the deal at 45% probability, up following news of the M2 app. The deal would require users to download the new app and transfer their accounts to a completely separate version. Reported investors include Andreessen Horowitz, Larry Ellison, and Oracle, though details on stake size and deal structure remain unclear.
Launching a domestically controlled version just before the ban deadline would sidestep forced shutdown and preserve TikTok's US user base and revenue. Whether the deal closes and on what terms remains unresolved.
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