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Oracle‘s stock jumped 7% Friday after the cloud provider joined a group of investors slated to lead TikTok’s U.S. operations. In a memo to employees Thursday, CEO Shou Zi Chew said the social media company’s U.S. division will be run by a joint venture that includes Oracle, Silver Lake, and Abu Dhabi-based MGX. The deal […]
TikTok’s Chinese owner, ByteDance, signed binding agreements with three major investors to sell just over 80% of the company’s US assets to American and global investors to avoid a US government ban, TikTok CEO Shou Zi Chew told employees on Thursday. The deal is a major step toward resolving years of uncertainty about the short video app’s […]
This content contains affiliate links. When you buy through these links, we may earn an affiliate commission. Welcome to Today in Books, our daily round-up of literary headlines at the intersection of politics, culture, media, and more. The Clock Runs Out for TikTok’s Publishing Experiment According to reporting from The Bookseller, TikTok parent company ByteDance […]
TikTok’s grip on the short-form video market is tightening, and the world’s biggest tech platforms are racing to catch up. Since launching globally in 2016, ByteDance-owned TikTok has amassed over 1.12 billion monthly active users worldwide, according to Backlinko. American users spend an average of 108 minutes per day on the app, according to Apptoptia. […]
President Trump plans to meet with top White House officials on Wednesday to discuss a proposal that could secure TikTok’s future in the United States, two people familiar with the plans said. Mr. Trump will consider a proposal for a new ownership structure for the popular video app, which is owned by the Chinese internet […]
Jakub Porzycki | Nurphoto | Getty Images Business moguls such as Elon Musk should be prepared to spend tens of billions of dollars for TikTok’s U.S. operations should parent company ByteDance decide to sell. TikTok is staring at a potential ban in the U.S. if the Supreme Court decides to uphold a national security law […]
