Drew Angerer/Getty Images; Zheng Shuai/VCG via Getty Images
ByteDance said in a statement Monday it would retain 80% control of the company, but Oracle later said "ByteDance will have no ownership in TikTok Global."President Trump and Beijing have both hinted they might block TikTok's financial tie-up with Oracle and Walmart, amid enormous confusion about the future ownership structure of the video app in the US.that he won't approve the deal unless Oracle and Walmart have "total control" of the company.
Asked about a final decision, Trump said: "That's working its way through. I've given a preliminary okay. They will work — they're two great companies — Oracle and Walmart. Larry Ellison [Oracle's cofounder] is a — you know, a great genius at that kind of thing. The technology is incredible."
China better be owning it's own app 😴
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Oracle's TikTok deal earned Trump's approval, but the rollercoaster isn't over yet - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. What did they give him? Remember when it wasn’t the King’s job to approve trade deals among companies, but the FTC’s?
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What TikTok’s U.S. deal means for its business in EuropeAssuming the Oracle deal goes through without any major objections from Beijing, what happens to TikTok in Europe? Soooo after all the grandstanding about tiktok.... Us companies will not have majority ownership.... No insight into source code.... And people who like spying on users for consumer behaviour (walmart CEO) will be on the board..... What a giant failMan facepalming TikTok will PikPok
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ByteDance contradicts President Trump on TikTok deal - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. shonaghosh Golly gosh. Trump not being truthful? Really? Wow!
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