Trump Approves TikTok With California Based Company Oracle

tiktok oracleDonald Trump has approved a deal which will see Oracle lead a coalition to buy TikTok from Chinese company ByteDance.

Last month Trump ordered that ByteDance sell TikTok, or else it would be shut down in the United States. About 100 million Americans use TikTok and U.S. officials have expressed concern about user data and the potential for China to access that data.

On Saturday, shortly before departing for a campaign rally in North Carolina, the president said he had given the green light to an offer made by California-based Oracle, working in a partnership with Walmart. ‘I have given the deal my blessing,’ he said, adding that the agreement ‘will have nothing to do with China.’ He continued: ‘It’ll be totally secure, that’s part of the deal.’

TikTok, known in China as Douyin is a Chinese video-sharing social networking service owned by ByteDance, a Beijing-based Internet technology company founded in 2012 by Zhang Yiming. It is used to create short music, lip-sync, dance, comedy and talent videos of 3 to 15 seconds, and short looping videos of 3 to 60 seconds. ByteDance first launched Douyin for the Chinese market in September 2016. Later, TikTok was launched in 2017 for iOS and Android in most markets outside of mainland China; however, it only became available worldwide, including the United States, after merging with another Chinese social media service Musical.ly on 2 August 2018.

TikTok and Douyin have almost the same user interface but no access to each other’s content. Their servers are each based in the market where the respective app is available. In addition to the ByteDance headquarters in Beijing, TikTok also has global offices, including in Dublin, Los Angeles, New York City, London, Paris, Berlin, Dubai, Mumbai, Singapore, Jakarta, Seoul, and Tokyo. Since its launch in 2016, TikTok/Douyin rapidly gained popularity in East Asia, South Asia, Southeast Asia, the United States, Turkey, Russia, and other parts of the world. As of July 2020, TikTok, excluding Douyin, reported close to 700 million users worldwide after less than four years of existence. As of April 2020, Douyin reported around 500 million monthly active users.

Hickory Dickory Dock Will President Trump Buy TikTok

In June 2020, Kevin Mayer became CEO of TikTok and COO of parent company ByteDance, but he resigned on 27 August, just four months into the job. Previously, he was chairman of Walt Disney Direct-to-Consumer & International. On 3 August 2020, US President Donald Trump threatened to ban TikTok in the United States on 15 September if negotiations for the company to be bought by Microsoft or a different “very American” company fail. On 6 August, Trump signed two executive orders banning US “transactions” with TikTok and WeChat to its parent company, ByteDance, set to take effect 45 days after the signing. A planned ban of the app on 20 September 2020 has been postponed by a week. It has been banned by the government of India since June 2020 along with 223 other Chinese apps in response to a border clash with China. More Here