TikTok and oracle deal Approved by Trump: US youngsters love it
Donald Trump the president of the united states has stated that the bid of oracle and Walmart to take over TikTok’s U.S. operations has been approved by him this means that this app loved by American teens is not to be banned
Trump told reporters while leaving the white house, that the combined company is “conceptually” a good deal for the U.S. The new company will continue to go by the name TikTok, Trump said. And it would be headquartered in Texas and employ at least 25,000 people
He added “I have given the deal my blessing if they get it done that’s great if they don’t that’s OK too,” Trump said. “We’ll see whether or not it all happens but conceptually I think it’s a great deal for America.
TikTok said in an email statement that It’s pleased that the proposed deal with three companies answered all the questions about the app’s future in the US.
TikTok pleased by the proposal
TikTok said, “We are pleased that the proposal by TikTok, Oracle, and Walmart will resolve the security concerns of the U.S. Administration,”.
This deal approval has played a major role in Trump vs TikTok chapter, Trump says this is for security concerns. The Trump administration warned TikTok, which is owned by Chinese company Bytedance and said that it might share its user data with china government
TikTok has said it doesn’t share U.S. user data with China and also does not send any information to its hub in Beijing.
The U.S. version of TikTok uses very strong security Trump said “It will have nothing to do with any outside land and the outside country. It will not be related to China.”
Oracle a very big software company has grabbed the proposal and also take the responsibility of hosting user data in US and national security concerns, according to TikTok.
This deal will be very prospective for Walmart as it has data of active, young consumers that are frequent users of TikTok.
Trump announced just ahead of the already declared deadline for TikTok as trump already issued an executive order giving the app before Sunday, deal with American based company, otherwise the app will no longer be available in app stores of the U.S.
WeChat, the Chinese app also owned by a Chinese company, had also same executive order that after Sunday government will block all its ability to transfer funds and payment processing and also stop updates of application.