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Trump blessed ByteDance with Oracle and Walmart, TikTok could continue to work

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US government and President Donald Trump has approved a deal that will allow TikTok to operate in America. As a reminder, today it should have been removed from App Store and Google play but now this issue has been resolved.

Details of the deal

Parent company ByteDance will create TikTok Global, 20% of which will receive US Oracle and Walmart. 7.5% will go to Walmart, 12.5% Oracle. ByteDance will save for itself 80%, but so how are u it has American investors, in fact, TikTok Global will be on 53% owned by American companies.

I AM blessed this deal. I AM approve the deal conceptually, Trump stressed.

IN TikTok Global will have a majority of American directors, and Oracle will host user data on their servers and control the program code. As noted in The United States Department of the Treasury, the company will be responsible for key technologies and security to protect all user data in USA.

In addition, Trump said that the parties to the deal agreed to contribute $ 5 billion in education fund. True, in ByteDance about this was first learned from journalists. We make it clear that we first heard about this educational foundation from media reports, said in comments from company representatives.

Source: Reuters

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