Donald Trump approves Oracle deal to buy TikTok

The dispute caused by TikTok has given much to talk about. The social application put its existence in the United States at risk after disagreeing with the government of that country, which tried to block it due to a possible vulnerability that would expose the country to China. The good news for users is that, after 2 months of uncertainty, TikTok appears to be going nowhere, as the deal with Oracle would have been accepted by Donald Trump.

The future of TikTok looked bleak after it became known that no one would be able to download the app as of Sunday, September 20, a sign many took as an alarm. Fortunately for all content creators, as well as users of this platform, after several weeks of negotiations, Oracle confirmed that it would be in charge of the company’s operations in the United States, which would ensure that TikTok was not banned in the region.

ORACLE AND WALMART WOULD CONTROL PART OF TIKTOK GLOBAL

This deal, however, would need the approval of the president of the United States, Donald Trump, so it was expected that it would take time to be approved. However, this happened somewhat early, as the president, according to a Bloomberg report, gave the go-ahead to the deal on the afternoon of Saturday, September 19. “I have given my blessing to the deal. If they get it, that’s fine. If not, that’s fine too. I approve of the deal on the concept, ”Trump said.

According to the information, the new company that would be formed would be TikTok Global, of which Oracle Corp. and Walmart Inc. would control 20%. Likewise, the organization would donate $ 5 MMDD to an educational fund and its headquarters would be located in Texas and would employ “at least” 25,000 people, although TikTok assured that it would create 15,000 additional jobs.

READ ALSO  TikTok's chief executive resigns due to Trump's pressure against the platform

THE TIKTOK APP WILL CONTINUE TO BE AVAILABLE

Thanks to the favorable resolution and approval of Trump, the Commerce Department reported this day that it will delay the TikTok ban by 1 week, which would force Apple and Google to withdraw the application from their respective stores on Sunday, September 20.

It is important to say that although it has already received the approval of Trump, the agreement is not yet closed, but it is necessary that ByteDance, the Chinese company that owns TikTok, also agrees with the deal and makes it official. According to the information, the terms of ByteDance include the retention of the majority of TikTok shares and control of the application’s algorithm, although it would allow Oracle to review the source code in order to ensure that there is no vulnerability to the privacy of US users.

“We are 100% confident in our ability to provide a highly secure environment for TikTok and to ensure the privacy of information to US TikTok users and users around the world. This vastly improved security and guaranteed privacy will allow the continued rapid growth of the TikTok user community to benefit all shareholders, ”said Safra Catz, CEO of Oracle, through a statement (via Comic Book ).

For its part, TikTok mentioned through a statement that it is satisfied that “the proposal by TikTok, Oracle and Walmart will alleviate the concerns of the United States administration and clear up doubts about the future of TikTok in the United States.”

What do you think of this situation? Are you a user of the social platform? Were you worried about his future? Tell us in the comments.

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