ByteDance Might Invite More Investors to TikTok After Oracle, Walmart, Reports Claim

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MOSCOW (Sputnik) – China’s ByteDance company, the owner of video-sharing app TikTok, told the Chinese Global Times newspaper on Sunday it was not ruling out inviting more investors into the app on the heels of the agreement with US’ Oracle and Walmart.

According to the Global Times report, as long as no specific deal on TikTok’s pre-IPO has been signed, more investors might be introduced in addition to Oracle and Walmart.

Earlier in the day, TikTok confirmed reaching a deal with Oracle and Walmart following weeks of negotiations with several US tech companies after US President Donald Trump threatened to ban the app unless it is sold to a US company.

China and U.S. flags are seen near a TikTok logo in this illustration picture taken July 16, 2020. REUTERS/Florence Lo/Illustration

Trump gave a green light to TikTok’s purchase by Oracle and Walmart after which the US Commerce Department said it would put off the planned ban of the app until 27 September.

The US government has long been after TikTok, along with several other Chinese tech companies, over alleged data privacy concerns on the backdrop of a fierce economic competition that got coined as a “trade war”.

Sourse: sputniknews.com

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