TikTok’s global headquarters might move to the US to avert a ban

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A smartphone with the Tik Tok logo is seen in front of a displayed Oracle logo in this illustration taken, Septemeber 14, 2020. REUTERS/Dado Ruvic/Illustration


Dado Ruvic / reuters

Details of ByteDance’s deal with Oracle for control of TikTok are beginning to come into focus. ByteDance’s partnership with Oracle “will place TikTok’s global business in a new US-headquartered company with Oracle investing as a minority shareholder,” the Financial Times reports

The partnership, which could be made official as soon as Tuesday afternoon, according to Reuters, will bring TikTok’s months-long drama over its ownership to an end.

Under the arrangement, TikTok’s headquarters for the entire app, not just its American operations, will move to the US. ByteDance will keep the app’s recommendation algorithm, while TikTok’s data will be “processed independently by Oracle,” according to the FT. American user data will be stored by Oracle in the US.

Donald Trump had previously set a Sept. 15 deadline for TikTok to become an American company or face a ban in the US. Microsoft had also teamed up with Walmart on a bid, which was ultimately rejected

Developing…

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TikTok, ByteDance, Oracle, Microsoft, China, news, gear
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