Companies > United States

Oracle's TikTok deal earned Trump's approval, but the rollercoaster isn't over yet

29 days ago   |   By Business Insider

Summary List Placement President Donald Trump said on Saturday he approved the deal between Oracle and TikTok's parent company ByteDance, in what is the third 180 that the US government has made in the last few days.
To recap: The US Treasury approved a deal between Oracle and Bytedance on Thursday, but the next day, Trump said he was still unsatisfied with the deal, and the administration announced it would bar TikTok from the app store beginning Sunday. Finally, on Saturday, Trump appeared to backtrack on his original disapproval, and gave the deal his blessing.
It's a lot of whiplash...
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TikTok owner ByteDance is reportedly eyeing a $60 billion valuation for TikTok Global

TikTok owner ByteDance is reportedly eyeing a $60 billion valuation for TikTok Global

29 days ago   |   By Business Insider

Tolga Akmen/AFP/Getty Images; Clancy Morgan/Business Insider
TikTok's owner ByteDance is reportedly seeking a valuation of $60 billion for its US operations. ByteDance reached an agreement with Oracle and Walmart this weekend, under which both companies will take a 12.5% and 7.5% share respectively in the Chinese firm. Both companies will pay a combined $12 billion if the asking price is met. The US initially planned to ban TikTok from Apple and Google's stores on Sunday. The decision has now been delayed by a week according to the Department of Commerce. Visit Business Insider's homepage...
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TikTok owner ByteDance is reportedly eyeing a $60 billion valuation for TikTok Global

TikTok owner ByteDance is reportedly eyeing a $60 billion valuation for TikTok Global

29 days ago   |   By Business Insider

Summary List Placement
TikTok's owner ByteDance is reportedly seeking a valuation of $60 billion for its US operations.
ByteDance reached an agreement with Oracle and Walmart this weekend, under which both companies will take a 12.5% and 7.5% share respectively in the Chinese firm.
Both companies will pay a combined $12 billion if the asking price is met.
The US initially planned to ban TikTok from Apple and Google's stores on Sunday.
The decision has now been delayed by a week according to the Department of Commerce.
Visit Business Insider's homepage for more stories .
TikTok's Chinese...
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Trump's TikTok Deal: What Just Happened And Why Does It Matter?

Trump's TikTok Deal: What Just Happened And Why Does It Matter?

29 days ago   |   By NPR

President Trump is claiming victory after blessing a deal in which Oracle and Walmart will own a stake of TikTok, but experts wonder whether the terms of the agreement will really change anything. (Image credit: SOPA Images/SOPA Images/LightRocket via Gett)
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Time's Up For TikTok: How The Deal Affects You And National Security

29 days ago   |   By Forbes

Oracle and Walmart are poised to take on a minority stake in TikTok, which President Trump has expressed support over. Failure to properly account for the security risks will adversely affect consumers and national security. Executives in these companies must focus on the long-run to succeed.
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TikTok's Chinese owner contradicted 2 of Trump's key boasts about its deal with Walmart and Oracle

29 days ago   |   By Business Insider

US President Donald Trump.
JIM WATSON/AFP via Getty Images
TikTok parent ByteDance released a statement Monday about the app's US deal with Oracle and Walmart that contradicted two statements made by the president.
It asserted that Beijing-headquartered ByteDance will maintain 80% control of the newly formed TikTok Global despite Trump saying it would have "nothing to do with China."
The company also denied knowledge of the president's claim that $5 billion would go to the US Treasury to set up an education fund.
Oracle on Saturday announced that it would become a minority investor in...
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