Trump 'blesses' TikTok's deal with Oracle & Walmart

The move will allow TikTok to operate in the US since the tech giant and the retail multinational will now resolve security concerns regarding the platform in the country

e4m by exchange4media Staff
Updated: Sep 21, 2020 1:52 PM
tiktok

US President Donald Trump has approved TikTok's deal with Oracle and Walmart, allowing the short content video platform to operate in the country. The President told reporters, "I have given the deal my blessing -- if they get it done that's great, if they don't that's okay too." He added that he has approved the deal "in concept."

Oracle has informed that it will provide secure cloud services  to TikTok and will hold a 12.5% stake in the company. Retail giant Walmart announced that it has agreed to a 7.5% stake. Its CEO Doug McMillon would serve on the board, comprising four other members.

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