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Stake-backed livestreaming website Kick has showcased a business purchase letter of intent for TikTok. For those out of the loop, TikTok is facing a ban in the United States following an oral hearing at the Supreme Court on Friday, January 10, 2025, requiring the video-sharing platform's Chinese-based parent company, ByteDance, to sell off its US operations by January 19, 2025.
On January 13, 2025, YouTube star Jimmy "MrBeast" said on X that he would buy TikTok to prevent it from being banned in the United States.
Two days later, on January 15, 2025, the Kansas native posted a 13-second video, in which he claimed to have met with a "bunch of billionaires," adding that he had an "offer ready" to buy the platform:
"I just got out of a meeting with a bunch of billionaires. TikTok, we mean business! This is my lawyer right here. We have an offer ready for you. We want to buy the platform. America deserves TikTok. Give me a seat at the table, let me save this platform, TikTok."
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On the same day, Kick posted on X that it "beat" MrBeast to it and shared the first page of a business purchase letter of intent for TikTok:
"Beat you to it, MrBeast."
What was written in the business purchase letter of intent that Kick showed for TikTok?
The purchase letter of intent, dated January 13, 2025, indicated that Kick (the Buyer) was interested in purchasing TikTok's US business operations from ByteDance (the Seller). The addresses and purchase amount were redacted from the document that the livestreaming platform shared on X.
The following terms were mentioned on the first page of the business purchase letter of intent:
1. THE BUYER. Kick Streaming PTY LTD (the 'Buyer') with a mailing address of [Redacted]. Melbourne VIC 3000 Australia. 2. THE SELLER. ByteDance LTD (the 'Seller') with a mailing address of [Redacted] Haidian District, Beijing China. 3. THE BUSINESS. TikTok U.S. (the 'Business'). 4. THE PURCHASE. Unless otherwise agreed to by the Parties, the Buyer agrees to pay the Seller the amount of $ [Redacted]. (the 'Purchase Price') in exchange for % ownership interest in the Business (the 'Purchase'). 5. REAL ESTATE. Unless otherwise agreed to by the Parties, the Purchase will: Include Real Estate. The Seller agrees to include in the Purchase the real estate located at 5800 Bristol Pkwy, Culver City, CA 90230, US with a legal description of: 120,000-square-foot office at the C3 campus for the price of [Redacted]. Not Include Real Estate. Real estate will not be included in the Purchase."
In addition, Kick shared a 14-second video with a snippet from MrBeast's aforementioned video, claiming that the platform "meant business" with the TikTok acquisition.
