Jan 26 (Reuters) – U.S. search engine startup Perplexity AI has revised the merger proposal it had submitted to TikTok’s Chinese parent ByteDance to create a new entity combining Perplexity and TikTok U.S., a person familiar with the proposal told Reuters on Sunday.
Read more: Perplexity AI proposes to merge with Tiktok, with US government getting half, source saysThe proposal calls for the U.S. government to own up to 50% of the new company upon a future initial public offering (IPO), the person said.
A Perplexity document shared with ByteDance and new investors proposed the creation of a new U.S. holding company called “NewCo”, the person said.
