TikTok Announces Deal With Oracle and Walmart, Trump Approves

Just hours before new app downloads would be banned in the United States, Vanessa Pappas, the interim head of TikTok, announced on Saturday that the company has reached a proposal with Oracle and Walmart that will keep the video sharing platform alive in the country. The deal has also been approved by President Donald Trump, reports Bloomberg.

tiktok logo
The deal will effectively establish a new company, TikTok Global, in which Oracle and Walmart can together take up to a 20 percent stake in. TikTok Global will be headquartered in the United States and will bring 25,000 jobs to the country. Pappas said that Oracle will be responsible for storing user data, emphasizing the company's commitment to protect its users' privacy.

We're pleased that today we've confirmed a proposal that resolves the Administration's security concerns and settles questions around TikTok's future in the US. Our plan is extensive and consistent with previous CFIUS resolutions, including working with Oracle, who will be our trusted cloud and technology provider responsible for fully securing our users' data. We are committed to protecting our users globally and providing the highest levels of security. Both Oracle and Walmart will take part in a TikTok Global pre-IPO financing round in which they can take up to a 20% cumulative stake in the company. We will also maintain and expand the US as TikTok Global's headquarters while bringing 25,000 jobs across the country.

The deal was announced just hours before the U.S. Commerce Department was set to ban new downloads of TikTok, and Bloomberg says the ban on TikTok has been delayed by a week after Trump gave his initial approval of the proposal. The initial ban was set to include both TikTok and WeChat, but it is unclear at the current time if the latter app, which is owned by China's Tencent Holdings, will still be banned from Apple and Google's respective U.S. app stores on Sunday.

President Trump in August signed an executive order giving ByteDance, TikTok's parent company, 90 days to sell its TikTok business in the United States due to evidence of possible national security threats from the China-based company. Though TikTok has opted for a partnership instead of a divestment of U.S. operations, all user data will be stored by U.S.-based Oracle, and the company will be able to review TikTok's current source code and that of any subsequent updates.

Note: Due to the political or social nature of the discussion regarding this topic, the discussion thread is located in our Political News forum. All forum members and site visitors are welcome to read and follow the thread, but posting is limited to forum members with at least 100 posts.

Tags: Oracle, TikTok

Top Rated Comments

hagar Avatar
10 months ago
US imperialism at its best. I’m no fan of China, but this is ridiculous. I hope other countries start blocking US apps that “spy” on their citizens. But then it would be called stifling innovation, wouldn’t it.
Score: 53 Votes (Like | Disagree)
mdatwood Avatar
10 months ago
I'd love to know how TikTok is going to generate 25k jobs in the US. Oracle already has 135k employees (~30% of which are not in the US), that can manage the technical side. Walmart also makes no sense.

Basically a fake deal to let the POTUS say he got something done. Yawn.
Score: 53 Votes (Like | Disagree)
now i see it Avatar
10 months ago
Whew- I was afraid I wouldn't be able to make my little dance videos for utter strangers
Score: 40 Votes (Like | Disagree)
macdos Avatar
10 months ago
This is about a president whose legacy is an unfinished wall against Mexico, two hundred thousand dead citizens, and hurt feelings after being deceived by the Tiktok fan base at a rally in Tulsa. He's doing all he can to throw dust in the air to confuse the general public about his dirty deeds, in a desperate hope to retain the power come November.
Score: 24 Votes (Like | Disagree)
hagjohn Avatar
10 months ago
Oracle and Walmart will take up to 20% stake ... so who owns the rest, ByteDance? I'm not sure how this stops "spying by China" from happening.
Score: 23 Votes (Like | Disagree)
Nordichund Avatar
10 months ago
I wonder if this would have happened if TickTock had been Russian?
Score: 19 Votes (Like | Disagree)

Top Stories

macbook air orange

Apple Developing a Whole New Kind of MacBook Air

Monday June 21, 2021 2:15 am PDT by
Apple is believed to be working on a completely new, high-end version of the MacBook Air, according to recent reports. Bloomberg's Mark Gurman, who often reveals accurate insights into Apple's plans, has repeatedly discussed the company's work on a high-end MacBook Air. Apple analyst Ming-Chi Kuo and leaker Jon Prosser have also referred to a similar MacBook Air model. The high-end...
ios wifi settings

iOS Bug Causes Specific Network Name to Disable Wi-Fi on iPhones

Sunday June 20, 2021 4:15 am PDT by
A wireless network naming bug has been discovered in iOS that effectively disables an iPhone's ability to connect to Wi-Fi. Security researcher Carl Schou found that after joining a Wi-Fi network with the name "%p%s%s%s%s%n" his iPhone's Wi-Fi functionality was left "permanently disabled." Changing a hotspot's SSID did nothing to correct the problem, with even a reboot failing to make a...
purple iphone 12 and 12 mini

iPhone 12 Mini Production Reportedly Ended Earlier Than Expected Due to Relatively Low Sales

Monday June 21, 2021 7:07 am PDT by
Following widespread reports that the iPhone 12 mini has experienced poor sales performance, at least relative to other iPhone 12 models, Taiwanese research firm TrendForce today claimed that production of the device has already ended. According to TrendForce, the iPhone 12 mini "reached End-of-Life ahead of time" during the second quarter of 2021, suggesting that Apple will focus on selling ...
iOS 15 Users Underwhelmed Feature

Users Underwhelmed by iOS 15 and iPadOS 15, Survey Suggests

Monday June 21, 2021 7:17 am PDT by
Users appear to be underwhelmed by Apple's upcoming iOS 15 and iPadOS 15 updates, according to the findings of a new survey by SellCell. The survey asked 3,000 iPhone and iPad users, evenly split between men and women, aged 18 or over in the United States, what they thought of iOS 15, iPadOS 15, and the naming of the upcoming iPhone 13 lineup. Over 50 percent of all of the survey's...
Top Stories 63 Feature

Top Stories: Beats Studio Buds Announced, Apple Watch Series 7 Rumors, and More

Saturday June 19, 2021 6:00 am PDT by
The Apple news cycle started to move beyond WWDC this week, but that doesn't mean there still wasn't a lot to talk about, led by the official debut of the much-leaked Beats Studio Buds that might give us a hint of what to expect for the second-generation AirPods Pro. With no hardware announcements at WWDC, we also took a look at when we might finally see the long-rumored redesigned MacBook...
primeday2020 feature3

Amazon Prime Day: The Best Apple Deals

Monday June 21, 2021 6:15 am PDT by
Amazon's annual Prime Day event has officially kicked off today, beginning 48 hours of discounts, offers, and tons of savings across Amazon's storefront. This includes everything from home electronics to clothing, jewelry, video games, movies, and much more. Note: MacRumors is an affiliate partner with these vendors. When you click a link and make a purchase, we may receive a small payment,...
iOS Spam Calendar Feature

iCloud Users Continue to Be Plagued by Calendar Spam

Monday June 21, 2021 8:51 am PDT by
Despite previous attempts to put the situation at rest, some iCloud users continue to experience spam calendar invitations, causing their calendars to be filled with random events. The situation received widespread coverage in 2016, where Apple said that it was "actively working to address this issue" by "identifying and blocking suspicious senders." Victims are targeted in various ways. The ...
iphone 13 yellow

TrendForce: iPhone 13 Lineup Will Remain Limited to Maximum 512GB of Storage

Monday June 21, 2021 6:33 am PDT by
Apple will likely unveil its next-generation "iPhone 12s" or "iPhone 13" lineup in around two and a half months from now, and ahead of time, Taiwanese research firm TrendForce has outlined its expectations for the devices. A summary of TrendForce's expectations:Apple will unveil four new iPhones in September, including a mini model, a standard model, and two Pro models. September is the...
16 inch macbook pro m2 render

When Can We Expect the Redesigned MacBook Pros Now?

Wednesday June 16, 2021 7:11 am PDT by
With no sign of redesigned MacBook Pro models at this year's WWDC, when can customers expect the much-anticipated new models to launch? A number of reports, including investor notes from Morgan Stanley and Wedbush analysts, claimed that new MacBook Pro models would be coming during this year's WWDC. This did not happen, much to the disappointment of MacBook Pro fans, who have been...
maxresdefault

Video: 20 Annoyances Apple Fixed in iOS 15 and macOS Monterey

Friday June 18, 2021 11:36 am PDT by
With iOS 15 and macOS Monterey, Apple is adding several quality of life improvements, which are designed to address some of the complaints that people have had with these operating systems for years now. Subscribe to the MacRumors YouTube channel for more videos. In our latest YouTube video, we're highlighting some of our favorite "fix" features that address long-running problems in iOS and...