ByteDance Does Not Exclude The Possibility Of Attracting Additional Investors In TikTok
ByteDance does not exclude the possibility of attracting additional investors in TikTok.
Chinese company ByteDance, the owner of the application TikTok, which the U.S. authorities intend to ban on its territory, said the newspaper Global Times, which does not exclude the possibility of attracting additional investors in the application in addition to the corporation Oracle and retailer Walmart.
According to the company, the possibility of including more investors in the deal is not excluded, because, at the moment, there was no agreement on the preliminary public offering of TikTok shares.
Earlier, U.S. President Donald Trump approved the purchase of the TikTok application by Oracle Corporation. He added that American retailer Walmart would be able to participate in the deal. The U.S. Department of Commerce postponed the planned ban on downloading the TikTok application for a week, until the end of September 27. TikTok confirmed the future joint work with Oracle and Walmart.
The U.S. administration accuses TikTok that the application can transfer data of Americans to the Chinese authorities. Its owner, the ByteDance company, denies it. Meanwhile, Trump in August signed executive decrees "On Combating the threat of TikTok" and "On Combating the threat of WeChat," which gave about a month to terminate in the U.S. jurisdiction any transactions with ByteDance.
TikTok is an application for creating and watching short videos, owned by the Chinese company ByteDance. Released in 2018, it has become a leader in the segment of applications for short videos in China and is gaining popularity around the world.