Billionaire real estate investor Frank McCourt wants to buy TikTok — but he's not interested in the algorithm [Business Insider]
Alphabet Inc. - Class C Capital Stock (GOOG)
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Source: Business Insider
The announcement did not share details of how much money is being raised or whether the group is in already in talks with TikTok. McCourt, who previously owned the Los Angeles Dodgers, is on the short list of investors who have shown interest in buying the platform. Former Google CEO Eric Schmidt said he thought about buying the platform but decided against it. Former Treasury Secretary Steven Mnuchin said he's eyeing a purchase , but he may not have the funds to do it. Big Tech companies are almost sure to face antitrust concerns if they want in. There is very little consensus on the app's price tag — one valuation pegs the US business at $100 billion , but another says it is immaterial to ByteDance's revenue . The platform may also be less attractive if it is sold without its "For You Page" algorithm , which has been credited for its success. McCourt told the New York Times that he doesn't want the algorithm. "We doubt very much that China would sell TikTok with the algorit
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