Donald Trump assured this weekend that Antigua and Barbuda Email List TikTok Global, the new company created by the alliance between ByteDance and Oracle to operate in the United States, was orphaned of any ties with China . However, ByteDance has seen fit to contradict the US president to emphasize that the majority of Antigua and Barbuda Email List TikTok shares remain in his hands. That ByteDance has dared to put the points over the i’s to the president of the United States himself to emphasize that he continues to be the majority shareholder of TikTok could end up with a dynamite agreement reached between Antigua and Barbuda Email List the
Chinese company and Oracle . Antigua and Barbuda Email List After all, Trump has always said actively and passively that he does not want there to be any intervention from China in TikTok (on pain of closing the famous application on US soil). The disagreement revolves around the TikTok Global stakes. ByteDance wanted to make it clear that TikTok Global is a subsidiary of its own company Antigua and Barbuda Email List based in the United States. It is true that before landing on the stock markets on the other side of the pond, TikTok Global will do a small round of financing to enlist the support of local investors. But after this round of funding, 80% of Antigua and Barbuda Email List TikTok will continue to be controlled by ByteDance.
ByteDance insists that it will be the majority Antigua and Barbuda Email List partner of the new-batch company TikTok Global The TikTok parent also wanted to emphasize that the application’s algorithms will not become the property of either Oracle or Walmart sale leads (the third company involved in Antigua and Barbuda Email List the agreement). Oracle will merely be “authorized to check the source code of TikTok in the United States.” “Displaying the source code is a universal solution commonly used by multinational companies to quell potential data security Antigua and Barbuda Email List concerns at the local level,” says ByteDance.
