TikTok Cuts Deal With Walmart And Oracle…. Trump Green Lights The Deal

The latest plot twist in the TikTok vs Trump saga has TikTok announcing that the company has reached a deal with Oracle and Walmart that will keep the video sharing platform alive in the US. The deal has also been approved by President Donald Trump reports Bloomberg. The deal will effectively establish a new company called TikTok Global. Oracle and Walmart can together take up to a 20 percent stake in this company. TikTok Global will be headquartered in the United States and will bring 25,000 jobs to the country. And Oracle will be responsible for storing user data.

But before anyone stops traffic and holds a parade, this deal could still go off the rails as the Chinese government will likely still get some sort of say. Meaning that if they say no, then this situation is back to square one. There’s also the fact that Oracle is associated with Larry Ellison who is a Trump supporter and the current CEO of Oracle is also a Trump supporter. That has the smell of cronyism. Something that Trump said he was going to stop. We’ll have to see how this plays out in the coming days.

One Response to “TikTok Cuts Deal With Walmart And Oracle…. Trump Green Lights The Deal”

  1. […] the lawsuit. Presumably because Microsoft, Walmart, and Oracle were trying to buy them. Ultimately they cut a deal with Oracle and Walmart. But that wasn’t enough to stop Trump from banning the app. So now TikTok is back in court to […]

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