| If you're finding value in our Creator Economy newsletter, I encourage you to consider subscribing to The Information. It contains exclusive reporting on the most important stories in tech. Save up to $250 on your first year of access. Greetings! What a wild 24 hours it's been! Everyone and their mother, including Amazon, AppLovin and the founder of OnlyFans, threw their hat in the ring at the last minute to try to acquire TikTok's U.S. assets. And as we first scooped on Wednesday, the White House is finalizing its proposal for a deal aimed at keeping TikTok alive in the U.S. On Thursday morning, Vice President JD Vance went on Fox News to reiterate that the Trump administration is on track to hash out a solution before the Saturday deadline the president set in January. "It'll come out before the deadline," Vance said on Fox News' "Fox & Friends" show. "I think that we're in a good place. We're going to keep on working at it." Our early look at the White House proposal shows the administration's thinking on a deal structure that could salvage TikTok while still complying with U.S. law. Under the proposal, a new company, likely to be called TikTok America, would be roughly 50% owned by new U.S. investors and license TikTok's algorithm from ByteDance, according to a person close to the discussions. Existing investors in ByteDance would have a roughly one-third stake in the new company, while ByteDance would retain a 19.9% stake—just under the threshold required in the law passed last year requiring TikTok to sever ties with its parent company or face a ban. But this plan doesn't address some of the biggest questions about how a new U.S. TikTok entity would function. Will TikTok CEO Shou Chew continue to lead the company? Will ByteDance still be involved in running the day-to-day operations? Which current employees of TikTok, a global company with lots of key functions based in the U.S., will be hived off into TikTok America? Then of course there's the key question of whether the Chinese government will give its blessing. Chinese officials have stayed mum publicly. It's unlikely any of those details will be hammered out before Trump announces a proposed deal structure by Saturday. Instead, Trump is expected to give a deadline of up to 120 days from his announcement to finalize all the nuts and bolts of a deal. This saga is far from over. Here's what else is going on… See The Information's Creator Economy Database for an exclusive list of private companies and their investors. Runway, an AI text to video startup, raised $308 million in Series D funding led by General Atlantic. Linguana, an AI dubbing and distribution startup for YouTubers, launched on Thursday and announced $8.5 million in seed funding from early-stage venture firm 2LVC and angel investors including billionaire businessman Oren Zeev. Adobe rolled out AI video features, such as extending a video clip with AI, in Premier Pro. Users can also now translate captions in more than 27 languages. Mark Zuckerberg is lobbying President Trump and his administration to settle an antitrust lawsuit that could force the company to sell Instagram or WhatsApp, The Wall Street Journal reported. The Meta Platforms CEO visited the White House for the third time during this presidency on Wednesday. Nick Viall, a former star on "The Bachelor" franchise, re-signed his deal with podcast distribution company Libsyn. The deal for his podcast, called "The Viall Files," will span nearly four years and is valued between $20 million and $30 million, according to Bloomberg. Ryan Bonnici is the new chief marketing officer of Later, a provider of influencer marketing and social media management software. Most recently, he was the CMO of Wellhub, a corporate wellness company. Thank you for reading the Creator Economy Newsletter! I'd love your feedback, ideas and tips: kaya@theinformation.com. If you think someone else might enjoy this newsletter, please pass it forward or they can sign up here: https://www.theinformation.com/newsletters/creator-economy |
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