ByteDance has emphasised it will remain in control of a hived-off TikTok Global business, appearing to contradict US President Donald Trump’s statements about how the new entity will be directed by Americans.
US President Donald Trump said he supported a deal in principle that would allow TikTok to continue to operate in the US, even as it appeared to conflict with his earlier order for China’s ByteDance to divest the video app.
US President Donald Trump told Oracle’s Larry Ellison and Walmart’s Doug McMillon that he still wants the government to receive a payment as part of a deal for the US operations of TikTok.
US President Donald Trump raised questions on Wednesday about plans by China’s ByteDance to keep a majority stake in the US operations of popular social media platform TikTok.
ByteDance founder and CEO Yiming Zhang’s decision to drop his pursuit of a sale of TikTok’s US operations to Microsoft in favour of a partnership with Oracle was the culmination of weeks of pressure.
Six weeks after announcing to the world it was in talks to buy TikTok, Microsoft comes out to tell us it didn’t get the gig. CEO Satya Nadella dodged a bullet. Now the gun is aimed directly at Oracle and its chairman, Larry Ellison.
ByteDance abandoned the sale of TikTok in the US on Sunday to pursue a partnership with Oracle that it hopes will spare it a US ban while appeasing China’s government, people familiar with the matter said.
Oracle’s bid for the US operations of TikTok received the backing of US President Donald Trump, bolstering the software maker’s attempt to derail takeover talks led by rival Microsoft.
Oracle has held preliminary talks with ByteDance on a potential bid for part of TikTok’s business, seeking to rival a competing bid by Microsoft, the Financial Times reported.
While a wave of employee activism marked by walk-outs and protests has rippled through Silicon Valley in the past few years, Oracle has glided along unscathed. No longer.