Kevin O’Leary wants to buy TikTok at up to 90% discount

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Kevin O’Leary is putting together a syndicate for a potential purchase of TikTok, with a starting bid of $20 billion to $30 billion — an up to 90% cut in valuation from the company’s last funding round.

Any deal for the short video-sharing platform — valued at $220 billion in 2023, according to PitchBook data — will likely exclude the user preference-based algorithms that have helped make it so successful, the O’Leary Ventures Chairman said on CNBC’s “Street Signs Asia.”

“It’s the largest entertainment and business network in America as it stands today, so it’s of great interest and great value,” he said on Friday.

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