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- The US Department of Commerce postponed the app download stop for a week. According to President Trump, Tiktok’s global business will be located in the United States.
- Tiktok and its Chinese owner Bytedance confirmed that a fundamental agreement had been reached with software company Oracle and supermarket operator Walmart.
- According to Bytedance, the cooperation also needs approval from China.
- In August, Trump threatened to ban the app. He called it a security risk.
Trump spoke to reporters at the White House about “big business for America.” The agreement will allow Tiktok to continue operating in the United States. It will be a completely new company. They will have nothing to do with China, Trump stressed. The security will be 100 percent.
According to the president of the United States, the new company will be located in the state of Texas and will employ about 25,000 people. Tiktok has around 100 million users in the US You can upload your own short clips or watch videos of others in the app.
The US Department of Commerce announced that the entry into force of the planned download ban would initially be postponed for a week until September 27.
It had previously been said that Chinese owner Bytedance’s Tiktok app will no longer be downloadable in the US as of Monday. As of November 12, it should no longer have worked. US officials had raised concerns about China’s potential to access the app’s user data.
The deal is not dry yet
According to Tiktok, an agreement is planned that sees Oracle as a technology partner in the US and Walmart as a business partner. Oracle and Walmart will take up to a 20 percent stake in Tiktok Global before an initial public offering.
US software company Oracle says it will provide cloud services for the newly designed short video platform in the US.
Tiktok owner Bytedance announced that it should reach a cooperation agreement with Oracle and Walmart as soon as possible. It also needs the approval of the Chinese government.
The Chinese government had previously torpedoed a direct sale of the US Tiktok business to the Microsoft software group.
The US government wants to disconnect the Chinese messaging app WeChat immediately due to similar points of criticism: it will disappear from the app stores on Monday and lose most of its functions. WeChat wants to avoid that in a California court.
