{"id":71867,"date":"2020-09-21T16:03:08","date_gmt":"2020-09-21T13:03:08","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bytedance-says-it-will-keep-control-of-tiktok-in-oracle-deal\/"},"modified":"2020-09-21T16:03:08","modified_gmt":"2020-09-21T13:03:08","slug":"bytedance-says-it-will-keep-control-of-tiktok-in-oracle-deal","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bytedance-says-it-will-keep-control-of-tiktok-in-oracle-deal\/","title":{"rendered":"#ByteDance says it will keep control of TikTok in Oracle deal"},"content":{"rendered":"

“#ByteDance says it will keep control of TikTok in Oracle deal<\/strong>”<\/p>\n

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If you want to watch Movies<\/a> or TV series visit the Dizi.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n

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\n Chinese tech giant ByteDance said Monday that it would retain control of TikTok under its deal to keep the popular video-sharing app<\/a> alive in the US.<\/p>\n

The Beijing-based firm made the claim in a statement<\/a> addressing \u201crumors\u201d that TikTok would become an American-owned company \u2014 as ByteDance\u2019s US partners, Oracle and Walmart, said when they announced the deal Saturday.<\/p>\n

ByteDance said TikTok Global, a new US-based company set up to run the app in the states, was its \u201c100 [percent] owned subsidiary.\u201d Its ownership will drop to 80 percent after a \u201csmall round\u201d of financing before the new company goes public, according to the statement posted on WeChat, a Chinese social media<\/a> platform.<\/p>\n

Walmart and Oracle, however, have said<\/a>\u00a0TikTok Global would be \u201cmajority owned by American investors,\u201d with the two companies taking a combined 20 percent stake in the newly formed company.<\/p>\n

The retailer and the software giant would pay a total of $12 billion for that stake if they agree to the $60 billion valuation ByteDance is seeking for TikTok, Bloomberg News reported<\/a> Sunday.<\/p>\n

But the two US companies said TikTok Global\u2019s American ownership would \u201cincrease and continue to grow over time\u201d following its initial public offering on a US stock exchange, which is expected to take place within a year.<\/p>\n

Additionally, American investors such as Silicon Valley-based venture firm Sequoia Capital and buyout firm General<\/a> Atlantic already own about 40 percent of ByteDance, suggesting they would have indirect ownership of TikTok Global.<\/p>\n

\u201cUpon creation of TikTok Global, Oracle\/Walmart will make their investment and the TikTok Global shares will be distributed to their owners, Americans will be the majority and ByteDance will have no ownership in TikTok Global,\u201d Oracle executive vice president Ken Glueck said in a statement Monday.<\/p>\n

ByteDance did not immediately respond to an email seeking more details about TikTok Global\u2019s ownership. But the company said in its statement that it hopes \u201cto reach a cooperation agreement that meets the legal requirements of the United States and China as soon as possible.\u201d<\/p>\n

ByteDance\u2019s deal with Oracle and Walmart allowed it to avert President Trump\u2019s threat to ban TikTok in the US, where the app has 100 million users. The Trump administration has expressed concerns that TikTok user data could be shared with the Chinese government, allegations the app has denied.<\/p>\n

In its statement, ByteDance said the deal doesn\u2019t involve the transfer of any technologies \u2014 such as TikTok\u2019s signature algorithm \u2014 though Oracle will be able to review the app\u2019s source code. Oracle and Walmart have said TikTok Global would possess all of TikTok\u2019s technologies.<\/p>\n

Walmart did not immediately respond to a request for comment Monday morning. Their stock prices were up 5.1 percent and roughly 1.2 percent in premarket trading Monday as of 7:27 a.m.<\/p>\n

With Post Wires<\/em>\n <\/div>\n

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Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“#ByteDance says it will keep control of TikTok in Oracle deal” If you want to watch Movies or TV series visit the Dizi.BuradaBiliyorum.Com Chinese tech giant ByteDance said Monday that it would retain control of TikTok under its deal to keep the popular video-sharing app alive in the US. The Beijing-based firm made the claim…<\/p>\n","protected":false},"author":1,"featured_media":71868,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2020\/09\/tiktok-deal-01.jpg?quality=90&strip=all&w=1200","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[71811,4973,71862,47912,32332],"class_list":["post-71867","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-9-21-20","tag-china","tag-deals","tag-tiktok","tag-walmart"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/71867","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=71867"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/71867\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/71868"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=71867"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=71867"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=71867"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}