Previously, ByteDance had rejected Microsoft's offer in acquiring the company and we wondered what could happen next. Well, turns out that we got our answer sooner than we thought as it has been confirmed that TikTok is indeed working with Oracle and Walmart as well.
According to Oracle, Walmart and TikTok's official statement, TikTok Global will be a new company formed by the three. TikTok will be the sole owner whereas both Oracle and Walmart will acquire 20% of the new company. This agreement is currently in tentative approval with the US Government, and Oracle will be TikTok's official cloud provider.
It's also worth mentioning that with the creation of TikTok Global, there would be over 25,000 new jobs for the American people so that's pretty great news. With this, it seems that TikTok's trouble with the US Government would be resolved soon but the US Government have yet to approve it. Nonetheless, looks like TikTok Global is in good hands.
If you would like to read the full statement, you can tap on the hyperlinks above to check them out. On the other hand, we have yet to know WeChat's fate from President Trump's executive order. Stay tuned for more trending news at TechNave.com.
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