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Trump agrees to deal in which TikTok will partner with Oracle and Walmart
Trump said he has given his blessing to a deal in which Oracle and Walmart would partner with TikTok in the U.S.
Trump said the new company will likely be incorporated in Texas.
Oracle will become TikTok’s cloud provider and a minority investor with a 12.5% stake.
TikTok confirmed Oracle’s role and said it was working with Walmart on a commercial partnership.
Both companies will take part in a pre-IPO financing round in which they can take up to a 20% cumulative stake, TikTok said.
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2020-09-20 08:19:13
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