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{"id":29590,"date":"2023-04-20T21:44:01","date_gmt":"2023-04-20T21:44:01","guid":{"rendered":"https:\/\/scienceandnerds.com\/2023\/04\/20\/the-damelio-family-wont-buy-tiktok-but-they-thought-about-it\/"},"modified":"2023-04-20T21:44:02","modified_gmt":"2023-04-20T21:44:02","slug":"the-damelio-family-wont-buy-tiktok-but-they-thought-about-it","status":"publish","type":"post","link":"https:\/\/scienceandnerds.com\/2023\/04\/20\/the-damelio-family-wont-buy-tiktok-but-they-thought-about-it\/","title":{"rendered":"The D\u2019Amelio family won\u2019t buy TikTok, but they thought about it"},"content":{"rendered":"

Source:https:\/\/techcrunch.com\/2023\/04\/20\/the-damelio-family-wont-buy-tiktok-but-they-thought-about-it\/<\/a><\/br>
\nThe D\u2019Amelio family won\u2019t buy TikTok, but they thought about it<\/br>
\n2023-04-20 21:44:01<\/br><\/p>\n

\n

Among dedicated TikTokers at The Information\u2019s Creator Economy Summit, a far-off storm cloud looms: what if TikTok really does get banned<\/a> in the U.S.?<\/p>\n

While TikTok has touted its Project Texas<\/a> plan to further separate the American company\u2019s operations from its Chinese parent ByteDance, the US government also proposed making ByteDance sell TikTok<\/a> to an American company.<\/p>\n

Marc D\u2019Amelio, the father of TikTok superstars Dixie and Charli D\u2019Amelio, said that he considered buying TikTok. In March, he tweeted, \u201cI am putting together a group of investors to pursue the purchase of TikTok.\u201d<\/p>\n

\n
\n

I am putting together a group of investors to pursue the purchase of TikTok.<\/p>\n

\u2014 Marc D’Amelio (@marcdamelio) March 18, 2023<\/a><\/p>\n<\/blockquote>\n<\/div>\n

The D\u2019Amelios have created a media empire<\/a> with their own retail brands and venture capital firm<\/a>, but it\u2019s a bold statement to propose buying a platform estimated<\/a> to be worth at least $60 billion<\/a>. As a whole, ByteDance is worth around $220 billion<\/a>.<\/p>\n

When The Information reporter Kaya Yurieff asked about this proposal on stage at the Summit, D\u2019Amelio said that it\u2019s not quite on the table anymore. That\u2019s not a surprise \u2014 it\u2019s hard to just casually raise billions of dollars, and even if it were possible, China reminded<\/a> the U.S. that it can\u2019t actually force a sale. But when the patriarch of TikTok\u2019s \u201cfirst family\u201d was pressed on this proposal, he revealed that he did legitimately consider the idea.<\/p>\n

\u201cIt\u2019s very expensive,\u201d D\u2019Amelio conceded to Yurieff. But the idea went a bit further than a random tweet. \u201cWe\u2019ve raised a lot of money for D\u2019Amelio Brands, and we have the connections to do it,\u201d he said. Ultimately, though, D\u2019Amelio thinks the best possible outcome is for the U.S. to not follow through on any sort of legislation banning TikTok.<\/p>\n

D\u2019Amelio Brands launched in September with $6 million in seed funding, which falls just a bit short of the price of TikTok. Perhaps the company has raised more capital that it hasn\u2019t announced yet, but not enough to seriously pursue that purchase, which is why D\u2019Amelio looked for other investors.<\/p>\n

So, while Charli D\u2019Amelio might be the queen of TikTok, it doesn\u2019t seem her family can literally buy the app.<\/p>\n<\/p><\/div>\n

<\/br><\/br><\/br><\/p>\n

Science, Tech, Technology<\/br>
\n<\/br>
\nSource:https:\/\/techcrunch.com\/2023\/04\/20\/the-damelio-family-wont-buy-tiktok-but-they-thought-about-it\/<\/a><\/br><\/br><\/p>\n","protected":false},"excerpt":{"rendered":"

Source:https:\/\/techcrunch.com\/2023\/04\/20\/the-damelio-family-wont-buy-tiktok-but-they-thought-about-it\/ The D\u2019Amelio family won\u2019t buy TikTok, but they thought about it 2023-04-20 21:44:01 Among dedicated TikTokers at The Information\u2019s Creator Economy Summit, a far-off storm cloud looms: what if TikTok really does get banned in the U.S.? While TikTok has touted its Project Texas plan to further separate the American company\u2019s operations from its […]<\/p>\n","protected":false},"author":1,"featured_media":29591,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"pagelayer_contact_templates":[],"_pagelayer_content":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[26,17,8],"tags":[],"class_list":["post-29590","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-science","category-tech","category-technology"],"yoast_head":"\nThe D\u2019Amelio family won\u2019t buy TikTok, but they thought about it - Science and Nerds<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/scienceandnerds.com\/2023\/04\/20\/the-damelio-family-wont-buy-tiktok-but-they-thought-about-it\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The D\u2019Amelio family won\u2019t buy TikTok, but they thought about it - Science and Nerds\" \/>\n<meta property=\"og:description\" content=\"Source:https:\/\/techcrunch.com\/2023\/04\/20\/the-damelio-family-wont-buy-tiktok-but-they-thought-about-it\/ The D\u2019Amelio family won\u2019t buy TikTok, but they thought about it 2023-04-20 21:44:01 Among dedicated TikTokers at The Information\u2019s Creator Economy Summit, a far-off storm cloud looms: what if TikTok really does get banned in the U.S.? 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