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When Mnuchin was Treasury secretary, he helped the Trump administration broker a deal in 2020 that would have had U.S. corporations Oracle and Walmart take a large stake in TikTok on national ...
Wedbush analyst Dan Ives estimates TikTok is worth “well north of $100 billion” with the algorithm — and potentially up to $200 billion in a “best case scenario.” “Without the algorithm it’s $40 billion to $50 billion,” Ives said, adding he does not believe that ByteDance and Beijing would sell TikTok with the algorithm.
A deal that would give Oracle and Walmart ownership stakes in TikTok is up in the air — and may not happen at all, as the Biden administration reviews Trump’s actions and policies against ...
Oracle (ORCL) and Walmart have issued a joint statement confirming their plans to snap up a minority stake in TikTok's U.S. business. Oracle will acquire a 12.5% stake in TikTok Global, while ...
Reportedly, after White House advisers persuaded him to hold off on banning TikTok outright because of the possible legal and political repercussions, Trump subsequently agreed to put a 45-day hold on any action against TikTok to allow ByteDance to divest the platform to Microsoft or, should a deal with the tech company not materialize, another ...
TikTok's fate, Trump's approval, and the terms of the Oracle deal all remain up in the air.
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ByteDance Ltd. is a Chinese internet technology company headquartered in Haidian, Beijing and incorporated in the Cayman Islands. [7]Founded by Zhang Yiming, Liang Rubo, and a team of others in 2012, ByteDance developed the video-sharing apps TikTok and Douyin.