TikTok to continue in US partnering with Oracle and Walmart

TikTok to continue in US partnering with Oracle and Walmart

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American president Donald Trump has given approval to the deal of TikTok with Oracle and Walmart. The President said that he has given his blessings to the deal and allowed the US companies to partner with Tiktok. The Oracle Company said that it will become TikTok’s cloud provider with a stake of 12.5%, as a minority investor. Similarly, Walmart has approved to purchase a stake of 7.5%, and the CEO of the company would serve as one of the five board members of the company. The remaining 80% will be owned by the Chinese parent company ByteDance.

Read More at CNBC

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