There is no shortage of speculation and reports around TikTok’s future in the U.S. Amid a swirl of rumors, TikTok’s Chinese parent ByteDance issued a statement (in Chinese) on Monday morning, bringing clarity to its ongoing deal that has captured global attention over the past few weeks. ByteDance is still the owner China’s ByteDance confirms it will retain an 80% stake in TikTok after selling a total of 20% to Oracle, its “trusted technology partner,” and Walmart, its “commercial partner.” But the arrangement doesn’t address the core of many observers’ worries, as my colleague Jonathan Shieber argued: “The deal benefits everyone except U.S.

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BING NEWS:
  • ByteDance says it will own a majority of TikTok. Oracle says ByteDance will own 0%. WTF is this deal?
    TikTok fact checks: US IPO, Chinese ownership, $5B in taxes That’s been our assumption, that Oracle is taking 12.5% in TikTok Global, and Walmart will take 7.5%. The deal terms would value TikTok at ...
    09/22/2020 - 2:57 pm | View Link
  • TikTok, WeChat and the growing digital divide between the US and China
    Over the past decade, the dynamic between Chinese and United States tech companies ... He added that ByteDance will have no ownership in TikTok Global. This creates more questions, but doesn ...
    09/22/2020 - 2:25 am | View Link
  • ByteDance says it will own a majority of TikTok. Oracle says ByteDance will own 0%. WTF is this deal?
    TikTok fact checks: US IPO, Chinese ownership, $5B in taxes That’s been our assumption, that Oracle is taking 12.5% in TikTok Global, and Walmart will take 7.5%. The deal terms would value ...
    09/21/2020 - 3:04 am | View Link
  • Trump: I Have Given the Tiktok-Oracle Deal My Blessing
    The proposal, which has the president’s blessing, would give Oracle and other investors minority ownership of a new company called TikTok Global. He spoke at a news briefing at the White House ...
    09/20/2020 - 8:11 pm | View Link
  • TikTok fact-checks: US IPO, Chinese ownership, $5B in taxes
    Clearly, the video app hopes an IPO, which will expose it to more public scrutiny, could ally fears over the alleged national security threat attached to its Chinese origin. Notably, ByteDance ...
    09/20/2020 - 5:35 pm | View Link
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