[ad_1]
Bytedance will locate Tiktok’s global operations in a new company based in the United States, where Oracle will take a minority stake. Reports the Financial Times, which has read the plans that have been presented to the US authorities.
To appease the Trump regime, Bytedance intends to put the popular song and dance app Tiktok in an American company. The plan, according to the Financial Times, is to establish a US headquarters with Bytedance as the majority owner and Oracle with a minor stake.
Among other investors, Walmart may be listed with a minority stake. The Financial Times further states that the details of the deal may change. The whole thing must also be approved by the United States. Some point out that Oracle has an advantage, as company president Larry Ellison and CEO Safra Catz have openly endorsed US President Donald Trump.
Donald Trump has set a September 20 deadline for the sale of Tiktok’s US operations. This is to separate the company from its Chinese owner. The plan is to put the application behind a firewall to prevent data transfer to China.
Tiktok has approximately 2 billion users worldwide, of which 100 million have monthly followers in the United States. Earlier this year, Tiktok was banned in India earlier this year, where the app had 270 million users.
