After President Joe Biden signed a foreign aid package that included a bill forcing TikTok's parent company ByteDance to divest from the app or face a ban in the US, several personalities have shown interest in buying the popular social media platform. One such candidate is Shark Tank investor and venture capitalist Kevin O'Leary, who has voiced his fervent interest in making a deal, but what could a TikTok deal from Mr. Wonderful look like?
O’Leary Ventures Chairman Kevin O'Leary joins The Morning Brief to discuss his interest in buying the popular social media app and what investors need to keep in mind for anyone looking to buy and maintain TikTok.
"Here's the real challenge: How do you keep those 7 million businesses, that [are] generating all of that revenue, on board during the choppy period of rewriting this algo [algorithm]? That's my secret sauce," O'Leary tells Yahoo Finance the biggest obstacle for keeping TikTok going.
"Those are my people. Those are two generations of Shark Tank... they're all in their 20s and 30s, they're the Sharkies... Here's my deal, I'm going to do the largest equity crowdfunding round in US history. Inviting all of them to come in right beside me as an equity shareholder. We'll start with the JOBS Act, but that's only good enough for $75 million. We will need to file an S-1."
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