‘Shark Tank’ investor, ex-LA Dodgers owner make last-ditch effort to buy TikTok

An investor from “Shark Tank” and a former owner of the Los Angeles Dodgers are teaming up to try to save TikTok before a nationwide ban is set to go into effect this month.

Kevin O’Leary, one of the venture capitalist “sharks” from the reality television show, said Monday that he had joined a group known as the People’s Bid for TikTok that has been putting together a bid for TikTok’s US business. The effort is being spearheaded by billionaire Frank McCourt, who sold the Dodgers in 2012.

If successful, the group said it would rebuild the platform in a way that prioritises the privacy of TikTok’s roughly 170 million American users.

“Together with Frank, we aim to deliver an American-owned platform that safeguards national security,” O’Leary said in a statement. “I’m confident that our shared vision, paired with president-elect Trump’s business acumen, will lead to a deal that benefits everyone.”

O’Leary had previously expressed interest in working with other investors to purchase TikTok, launching a crowdfunding effort that will now be folded into the People’s Bid.

“Kevin has been a relentless advocate for new ownership of this platform as he understands the enormous opportunity a sale presents for investors, the millions of creators who rely on the platform for their livelihoods, and everyday Americans who love the platform,” McCourt said in a statement.