Saturday, January 16, 10:53
Home inet TikTok: seeks $ 60 billion valuation from US companies

TikTok: seeks $ 60 billion valuation from US companies

Η ByteDance, its parent company TikTok, calls for a $ 60 billion valuation for its popular implementation, as Oracle Corp and Walmart Inc participate in the operations of technology companies in USA trying to address the security concerns posed by the President's administration Trump.


As he says Bloomberg, both Oracle and Walmart have the right to buy 12,5% ​​and 7,5% respectively from the newly established TikTok Global, based on an agreement that has received the approval of President Donald Trump.

The companies will pay a total of $ 12 billion for their shares if they reach an agreement with TikTok, which requires the amount of $ 60 billion.

The final valuation is still under discussion, as both sides are working out their own funds and data security measures.

Η China has not yet approved the agreement, although regulators are said to have expressed support for any transaction in which ByteDance still retains control of its valuable algorithms and other proprietary technologies.

President Donald Trump has in the past threatened to ban TikTok, citing national security issues. However, many believe that this is a tactic followed due to the dispute between the US and China. This forced ByteDance to make a deal, as it wanted to avoid a ban by the US government.

U.S. officials have expressed concern about the security of the personal data of 100 million Americans being sent to servers in China.

ByteDance rejected a full takeover bid from Microsoft Corp, but rather agreed to Oracle's offer in which the Chinese parent company will continue to hold the largest share.

Trump's new stance seems to conflict with his previous ByteDance executive mandate.

ByteDance is currently struggling to circumvent the TikTok ban, after the US Department of Commerce said on Friday it would block new downloads and updates to the app from yesterday.


Please enter your comment!
Please enter your name here

Absent Mia
Absent Mia
Being your self, in a world that constantly tries to change you, is your greatest achievement


The 5 best secure alternatives for WhatsApp

WhatsApp is one of the most popular messaging platforms, but it is definitely not accepted by everyone. Especially after his last ...

Android: How to see which apps have access to your site

It's no secret that smartphone apps have access to many permissions - if you let them. It is important to make sure ...

Canon lets you take pictures from space

Instead of releasing new cameras for CES 2021, Canon is doing something different: It lets you take pictures from space ....

Wikipedia vs Big tech: Who fights misinformation?

As Election Day turned into US Election Week, Facebook, Twitter and YouTube were trying to prevent ...

Tesla: It is called to recall cars due to problematic screens

The touch screen in some Tesla cars seems to have a problem, which could ...

Ransomware is responsible for half of all data breaches in hospitals

Almost half of the data breaches committed in hospitals and the wider healthcare sector are due to ransomware attacks, ...

Astronomers have just found the oldest oversized black hole

A quasar was discovered in a dark corner of space - over 13,03 billion light-years away - and contains a ...

What are the best and most affordable 5G phones for 2021

The market will soon be flooded with mid-range 5G devices. Everything that happens will be really exciting: you will be able to ...

Verified Twitter accounts in a cryptocurrency scam with the name of Elon Musk violated!

Lately, hackers have been violating verified Twitter accounts in a cryptocurrency giveaway scam, in which the name of the CEO is used ...

Classiscam: Fraudsters "fake" brands and deceive users of European markets!

Dozens of criminal gangs publish fake ads in popular online markets, to attract unsuspecting users to "fraudulent" commercial sites or phishing ...