President Trump said he has “given his blessing” to a deal in which Oracle and Walmart would join in a partnership with TikTok in the U.S. This deal could potentially allow the incredibly popular app to avoid the U.S. ban that was scheduled for Sunday.
As for the details of the deal, Bytedance reportedly offered to bring TikTok’s headquarters to the U.S. Trump said that the headquarters would most likely be located in Texas. In addition, the company will appoint a board of directors including U.S. citizens, and would also consist of a national security expert who will oversee security matters.
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President Trump’s main concern with the Bytedance company were security issues regarding U.S. users’ data. In the deal, Oracle would have complete control over the data operations. The outcome of the deal would significantly boost Oracle’s position as a company.
Sources: NBCnews.com, Politico.Com; Photo: Foxbusiness.com