A Wyoming man is continuing his push to save TikTok in the United States and remains optimistic after the latest delay on the ban.
It comes after President Donald Trump announced a “further delay extending the TikTok extension” on Feb. 19.
Shark Tank's Kevin O'Leary and YouTuber Mr.Beast have been some of the companies reportedly making bids along with Wyoming-based Rasner Media.
“We're ready to sign the deal today,” said Reid Rasner, Omnivest Financial founder & C.E.O.
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Rasner says Rasner Media's $47.45 billion offer is the leading bid toward getting China's ByteDance to sell TikTok.
“So either it's an actual $50 billion transaction and money means something or it's espionage and we say stop stonewalling,” Rasner said about the Chinese and ByteDance.
Rasner Media recently announced equity partnerships with Goodwin Proctor LLP, adding legal expertise and acquisitions, and Adaly, a technology and media company.
“We spent a lot of time working to put together the investor base for this transaction,” said Michael Kendall, partner and co-head of Goodwin Proctor’s global mergers and acquisitions group.”And also effort in communication with the White House.”
Rasner says his group is the only one asking for the algorithm, which he says is vital in keeping users' personal data away from the Chinese Communist Party.
“They are going to continue to use your data if you're on TikTok against you in very nefarious way,” Rasner said. “They're going to control what you, what your children are seeing on these apps. And our digital sovereignty is truly at stake.”
“Most Americans are worried about state actors outside the U.S. having various levels of access in the United States,” said Kendall. “And this is just one example of that. So, I think if, we can play a part in shoring up our digital defenses, that would be terrific.”
Gordon G. Chang, a distinguished senior fellow at the Gatestone Institute, recently came to Montana and also talked about what he sees as a problem with China and TikTok.
“China uses the curation algorithm and that's what makes TikTok so addictive because it knows its users. China's been using the curation algorithm to propagate its narratives,” said Chang, author of “Plan Red: China’s project to destroy America."
Chang also says fentanyl is a project of the Chinese Communist Party to weaken America.
“The Chinese fentanyl gangs, they launder their proceeds through the Chinese state banking system and TikTok,” Chang said. “TikTok promotes illicit drug use in the United States. It's Chinese owned so you put all that together and you've got to say well, what the hell is happening here?”
Rasner has talked about putting the headquarters in Wyoming. And recently spoke with South Dakota Governor Larry Rhoden.
But he also says that some of the potential operation could be put right here in Montana.
“We would love to see Montana join the fight here in these inner mountain west states and start leading the way,” Rasner said. “So you never know what's going to happen.”
America and the 170 million in the country who use TikTok are part of the motivation to have the platform continue in the United States.
“There are 7.5 million small businesses currently using TikTok,” Rasner said. “It's an important app and it's something a lot of people rely on to put food on the table at the end of the day, so we need to protect that.”
Rasner Media has been negotiating with the Chinese Communist Party's ByteDance for the last several months.
“It's in the president's sole discretion to approve a transaction,” Kendall said. “So at the end of the day, it's going to be whichever deal he thinks is best for the country.”
“As soon as China allows them to sell and the CCP signs off on it, I think we have a deal,” Rasner said.
