Project Liberty, advised by Kirkland & Ellis LLP, has submitted a formal offer to acquire TikTok’s U.S. assets just 10 days before the video-sharing app faces a federally mandated deadline to divest from its Chinese parent, ByteDance, or face a nationwide ban. The bid, announced Thursday, forms part of a broader effort by Project Liberty and its consortium, The People’s Bid for TikTok, to preserve the platform’s U.S. operations while addressing national security and data privacy concerns.
A Proposal for TikTok’s Future
Tomicah Tillemann, president of Project Liberty, said the offer’s financial details will remain confidential until ByteDance is prepared to engage in substantive discussions. However, he underscored the group’s readiness to complete the acquisition and maintain TikTok’s role as a “cultural cornerstone of the internet.”
“Project Liberty is the right buyer for TikTok’s U.S. business,” Tillemann said. “We have the technology, resources, and team to complete a deal and protect TikTok’s community while ensuring data privacy and user control.”
