Donald Trump validates the principle of the agreement proposed by ByteDance.
TikTok will enter into a partnership with Oracle and Walmart. © gguy – stock.adobe.com
TikTok welcomes agreement with United States
TikTok posted a statement on Twitter this Sunday morning. The application is relieved, it will ultimately not be banned in the USA. Donald Trump has validated the principle of the agreement proposed by ByteDance, the parent company of TikTok.
We are pleased that the proposal from TikTok, Oracle and Walmart responds to the US administration’s security concerns and resolves the issue of TikTok’s future in the US.
Donald Trump validates the partnership proposed by TikTok
Donald Trump has confirmed that he approves the principle of the project formulated by ByteDance. The US Department of Commerce also issued this release.
In light of positive developments, Secretary of Commerce Wilbur Ross, on orders from President Trump, to delay ban on transactions [avec] the TikTok mobile application, which would have been in effect on Sunday September 20, 2020, until September 27, 2020 at 11:59 pm ″.
This period will allow the various players to settle the final details of the agreement.
Details of the agreement between ByteDance, Oracle and Walmart
TikTok provides some information on the agreement validated by the United States. Oracle will indeed become “Trusted technological partner” from TikTok in the United States. Concretely, Oracle will be the supplier of the cloud solution, the company will host the data of all American users. This partnership was expected, Oracle mentioned it earlier this week in a press release.
But Oracle is not the only American company concerned by the assembly proposed by TikTok and validated by Donald Trump. The TikTok app announces that it is working with Walmart to finalize a business partnership. “The two companies [ndlr : Oracle et Walmart] will participate in a preliminary financing round for an IPO of TikTok Global, in which they can obtain a cumulative 20% stake in the company ”. Recall that originally, Walmart was associated with Microsoft. Microsoft had since been ousted from negotiations by ByteDance.
In its press release, TikTok also specifies that its American headquarters will be maintained and extended, to represent 25,000 jobs in the United States.
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