Todd Spangler NY Digital EditorOracle said it will take a 12.5% stake in the new TikTok Global, a U.S.-based entity formed from the Trump administration’s demand that the popular video app’s Chinese parent company, ByteDance, divest its U.S.
operations to American owners.Oracle confirmed its plans to take the ownership stake in TikTok shortly after President Trump said Saturday that he approved the deal “in concept.” As a part of the agreement, TikTok will run its app business on the Oracle Cloud, according to Oracle CEO Safra Catz.TikTok said in a statement Saturday that it also is working with Walmart on a “commercial partnership.” Oracle and Walmart will be take up to a 20% combined stake in a pre-IPO financing round for TikTok Global.
Read more on variety.com
Get the latest stars news and celebrity rumours with exclusive stories, photos, videos and interviews.
Breaking up, scandals, engagements, divorces, gossip – all you need to know about the private lives of your favorite celebs.
Get to know the latest showbiz news along with exclusive interviews and even more. All this is waiting for you on the main page 24 hours a day, 7 days a week! Who, where, when, with whom, how, why and for what!? Stay tuned to know first!
Just follow us daily and we will provide you with the current news from the life of famous stars and celebrities.
Owner: SNOWLAND s.r.o.
Registration certificate 06691200
Address:
Snowland s.r.o.
16200, Na okraji 381/41, Veleslavín, 162 00 Praha 6
Czech Republic
©2024. All rights reserved.