Perplexity AI, a US-based search engine company, has submitted a bid to merge with TikTok US, as per a recent report by Reuters. The proposal, submitted to TikTok’s parent company ByteDance on Saturday, was first reported by CNBC and confirmed by a source familiar with the discussions.

Perplexity AI, a California-based search startup, is close to raising $500 million in new funding, which would value the company at around $9 billion. The latest funding round will be led by venture capital firm Institutional Venture Partners (IVP), which also has a seat in the startup.