AppLovin has a confirmed deal in place to potentially acquire TikTok, according to CEO Adam Foroughi. This announcement follows misleading reports that implicated casino mogul Steve Wynn in the acquisition bid. Foroughi clarified that there have been no significant discussions with investors, including Wynn, and stated that the company does not require investment for the deal, but may consider it from strategic partners. He characterized their proposal as an extension of ongoing negotiations with Oracle, aimed at a global merger involving TikTok operations outside China.
"We have a deal that can provide a win for the Trump Administration and for the creators of TikTok," said Foroughi. "We have not had substantive conversations with investors, including none with Steve Wynn, and don't need investment for the deal."
Foroughi described AppLovin's proposal as an expansion of the existing deal under discussion with Oracle and investors, framing it as a broader merger that would encompass TikTok's global operations outside of China.
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