China's ByteDance was racing to avoid a crackdown on TikTok after the U.S. Commerce Department said on Friday it would block new downloads and updates to the app
The current plan for TikTok Global does not involve any transfer of algorithms or technologies, and Oracle will be able to inspect TikTok U.S.’s source code, ByteDance said.
U.S. officials had expressed concern that the personal data of as many as 100 million Americans that use the app were being passed on to China's Communist Party government
Then early on Friday Reuters broke the news that the U.S. government was preparing to block new users from downloading the Chinese-owned app from American app stores by Sept. 20.
Current TikTok users will see little change on Sunday and US Commerce Department officials said they will not bar additional technical transactions for TikTok until Nov. 12,
ByteDance has been in talks with Oracle Corp and others to create a new company, TikTok Global, that aims to address US concerns about the security of its users' data.
ByteDance has been in talks with Oracle Corp and others to create a new company, TikTok Global, that aims to address U.S. concerns about the security of its users' data
Trump ordered ByteDance last month to divest TikTok amid U.S. concerns that the personal data of as many as 100 million Americans that use the app could be passed on to China’s Communist Party government.
ByteDance has submitted a plan to U.S. officials for it to keep a majority stake in TikTok's global business and create headquarters for TikTok in the United States
The Beijing-based company had been in talks to divest TikTok's U.S. business to either Oracle or a consortium led by Microsoft Corp after U.S. President Donald Trump ordered the sale last month and threatened to shut down the popular short-video app in the United States.
ByteDance has been in talks to sell TikTok's U.S. business to potential buyers including Microsoft and Oracle since U.S. President Donald Trump threatened last month to ban the service if it was not sold.
Beijing's move has called Trump's bluff on TikTok and opened up the possibility that the app could be sold to an American buyer to avoid a ban on its business in the United States
The retailer revealed plans to join Microsoft Corp in a bid for the social media firm's US assets.
Connecting with a younger audience is vital to Walmart's long-term outlook, especially as more digitally native generations move into their prime consumption years.
CEO Kevin Mayer, a high-profile former Disney executive, is leaving three months after joining TikTok, in the middle of negotiations to sell the Chinese-owned short-form video app’s U.S. operations to Microsoft Corp or Oracle Corp.
Culver City, California-based TikTok and its Chinese parent ByteDance Ltd rejected what they called the White House’s position that it was a national security threat, saying they had taken “extraordinary measures to protect the privacy and security of TikTok’s U.S. user data.”
The move would represent a strategic departure for Oracle, which caters mostly to corporate customers and generates the bulk of its sales from cloud offerings and software licensing.
Well he's said that," Kudlow said I an interview with CNBC when asked about Trump's demand that part of the proceeds from the TikTok sale he has ordered go to the US Treasury.
I don't know whether that will end up being the case when the Treasury gets its bids in from potential bidders.
Oracle was working with some U.S. investors that already have a stake in ByteDance, including General Atlantic and Sequoia Capital, the newspaper reported, citing people briefed about the matter.
The order builds on sweeping restrictions issued last week by Trump that TikTok and WeChat end all operations in the US, his latest explosive moves aimed at countering China's rising global power.