ByteDance Forms TikTok Global
TikTok says Trump Administration has Yet to Review Ban Deadline
Sourced from Cosmico TikTok has called for the US Court of Appeals to review the ban by Trump administration’s Committee on Foreign Investment in the United States (CFIUS). The social media platform says that it has been weeks since it received an update about the deadline for ByteDance – TikTok’s parent company – to sell off US assets. “For a year, TikTok has actively engaged with CFIUS in good faith to address its national security concerns, even as we disagree with its assessment,” reads a statement from TikTok. /* custom css */ .tdi_3_4dd.td-a-rec-img{ text-align: left; }.tdi_3_4dd.td-a-rec-img img{ margin: 0 auto 0 0; } “In the nearly two months since the President gave his preliminary approval to our proposal to satisfy those concerns, we have offered detailed solutions to finalize t...
ByteDance Forms TikTok Global as part of Oracle Deal
Sourced from Gadgets 360. ByteDance is creating a new company called TikTok Global that will be responsible for providing all TikTok services to users in the United States and most of the users in the rest of the world. TikTok Global is expected to be majority-owned by American investors, including Oracle and Walmart (20%), and with four Americans out of the five-member Board of Directors. It also aims to create more than 25,000 new jobs in the United States and pay more than $5 billion in new tax dollars to the US Treasury. As part of this deal, Oracle will become the company’s cloud provider and all of its data will be hosted at the Generation 2 Cloud data centres. /* custom css */ .tdi_3_135.td-a-rec-img{ text-align: left; }.tdi_3_135.td-a-rec-img img{ margin: 0 auto 0 0; } “Oracle will...
