Just hours before TikTok is expected to go dark, the venture capital-backed AI startup Perplexity has put in a bid to merge with the platform, CNBC reported and Business Insider confirmed with a source familiar with the matter.

If accepted, the deal would combine TikTok, Perplexity, and the private equity firm New Capital Partners into a single company, putting an end to a months long saga over the app’s future. The source said the combined company could be “worth more than $50 billion.”

This is a developing story. Check back for more details.

Read the original article on Business Insider