TikTok avoids US ban – for now


A federal judge granted TikTok’s request for a temporary halt on the nationwide ban this Sept. 27, while companies Oracle and Walmart are struggling to finalize their deal with TikTok’s parent company, ByteDance.
“China’s ByteDance confirms it will retain an 80% stake in TikTok after selling a total of 20% to Oracle, its ‘trusted technology partner,’ and Walmart, its ‘commercial partner,’” ByteDance says in a statement.

However, confusion is currently rising because US President Donald Trump says that the “majority of TikTok Global must be owned by Americans” and because of a statement said by Oracle.

“Upon creation of TikTok Global, Oracle/Walmart will make their investment and the TikTok Global shares will be distributed to their owners, and ByteDance will have no ownership in TikTok Global,” Oracle said in an interview with reporters.

The deal is still unconfirmed to the public, but analysts are saying that whether the deal goes through or not, it might not stop China’s momentum in the high-tech industry to claim the next big global hit, which could cause similar problems in the future.

“A simple ban of TikTok doesn’t … address the momentum that the [Chinese tech] ecosystem has accumulated,” Rui Ma, co-host of the podcast Tech Buzz said.

Uncertainties are still present with regards to the details and information of the deal, however something that we are certain of is these proceedings will decide whether we see the social media hit TikTok remain in US app stores in the future.