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20 Sep 2020

Donald Trump supports deal to allow TikTok to continue to operate in US

Trump said the new TikTok company will be totally controlled by Oracle and Walmart. Offering support to the deal Trump said that it would create 25,000 US jobs. He said there would be a $5 billion US education fund as part of the deal.

16 Sep 2020

ByteDance to place TikTok's global headquarters in US to escape Trump ban

Other potential US investors such as the world's largest retailer Walmart, which had launched a joint bid with Microsoft, would own a minority stake, the report said Independent third parties will serve as directors of the new company, and ByteDance will continue to control TikTok and its core algorithms In order to allay US concerns about "national security," TikTok's data from America will be stored in the US and Oracle will serve as the data service provider, the report said

02 Jul 2020

Chinese company ByteDance to suffer Rs 45000 crore loss due to ban on TikTok

Indian government’s decision to ban TikTok and 58 other Chinese apps will cause huge financial losses to all these companies with ByteDance – TikTok’s parent company – expected to suffer a loss of Rs 45,000 crore (USD 6 billion).

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