Andreessen Horowitz is in talks to invest in TikTok as part of an effort led by President Donald Trump to wrest control of the popular video app from its Chinese owners, the Financial Times reported on Tuesday.
Silicon Valley Trump supporter and Andreessen Horowitz's co-founder, Marc Andreessen, 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, the report said.
Andreessen Horowitz has a long history of investing in social media: It was an early investor in Facebook* and Instagram* and invested $400 million to help Elon Musk acquire Twitter.
TikTok is once again slated to be banned in the U.S. on April 5 unless its Chinese-based owner sells its U.S. branch to a non-Chinese owner. The Oracle deal is said to be one of the frontrunners, according to the FT.
U.S. President Donald Trump will consider on Wednesday a final proposal related to TikTok ahead of an April 5 deadline for the app to find a non-Chinese buyer or face a U.S. ban, a White House official told Reuters.
There will be a meeting at the Oval Office involving Vice President JD Vance, Commerce Secretary Howard Lutnick, national security adviser Mike Waltz, and Director of National Intelligence Tulsi Gabbard, said the official, confirming a CBS News report.
*banned and designated as extremist in Russia
Source: Reuters, TechCrunch
