Several firms discussed forming a consortium to invest in the popular video-sharing app, with Alphabet weighing a minority, non-voting stake through one of its investment arms, said one of the people.
Alphabet didn’t lead the initiative. It isn’t clear which U.S. company did, or why the effort ended. Alphabet has not ruled out participating in future bids, said the person, who asked not to be identified discussing a private matter.
TikTok, owned by China-based...