Tuesday, November 24, 2020
Home Global News ByteDance owner of TikTok, seeks $60 billion valuation in US deal

ByteDance owner of TikTok, seeks $60 billion valuation in US deal

ByteDance owner of TikTok, seeks $60 billion valuation in US deal

"ByteDance

According to a person familiar with the matter, China’s ByteDance Ltd is seeking a $ 60 billion valuation for TikTok, as Oracle Corp & Walmart Inc. place bets in the short video app business to address US security concerns.

Oracle & Walmart have rights to buy 12.5% ​​and 7.5% under an agreement from a newly established TikTok Global,

Which won President Donald Trump’s approval, the person said, not named to discuss private negotiations.

If they agree to that price, the two companies will pay a combined $ 12 billion for their stake.

The final valuation value not determine because the parties work on equity structure & data protection measures, the person said.

Conditions are still in flux and the proposed evaluation may still change.

"ByteDance

ByteDance pressure into an agreement for TikTok when Trump threaten to ban the app in the US over national security concerns.

Microsoft Corp made an offer for the full purchase of the service, after which ByteDance turned to Oracle’s offering,

In which the Chinese parent would retain a solid majority stake.

I accepted the concept, Trump told reporters Saturday after leaving the White House for a campaign rally in Fayetteville, North Carolina, if they get it done, That’s great. If they don’t, that’s fine.

Representatives for ByteDance & Oracle not immediately respond to requests for comment.

ByteDance may own 80% of TikTok Global, including the U.S. Will include China in the operation of the app & the rest of the world.

Venture firms including Sequoia Capital and General Atlantic can also acquire equity in new businesses.

Under current proposal, TikTok Global will have five seats on its board. Walmart chief executive Doug McMillon will become a director, the retailer said in a statement.

Oracle has assure that it can protect TikTok user data from foreign influences.

"Established

Oracle CEO Safra Catz said in a statement, Oracle will quickly deploy, accelerate and operate the TikTok system in the cloud. For US users of TikTok.

Furthermore, to ensure there are no back doors used by the company’s Chinese parent to collect data or to spy on 100 million American users of video sharing apps,

According to people familiar with it The company will get full access to TikTok’s source code and updates matter.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Survivor Series 2020 – Roman Reigns defeats Drew McIntyre

Survivor Series 2020 - Roman Reigns defeats Drew McIntyre, The Undertaker bids final farewell, Team Raw reigns supreme Survivor Series 2020 - Legendary American wrestler...

Nifty Share Price, Reliance Industries share Increases 4%

Reliance Industries share Increases 4%, Nifty Share Price Nifty Cross Intra day Record High at 12969 & Sensex 44271 Closes 67 Points of Nifty Higher At...

video calls free – Microsoft Teams Now Introducing for 24 hour Support.

Microsoft Teams Now Introducing free video calls for 24 hour Support. Microsoft has now introduce an all day video calling option, that will permit Microsoft team...

Mulayam Singh Yadav’s birthday, PM Modi Congratulate & Yogi

Mulayam Singh Yadav's birthday, PM Modi Congratulate & Yogi Adityanath prays for his long life UP CM Yogi on Sunday wish to founder of Samajwadi...

Bigg Boss 14 – Salman Khan’s jokes, Disha Reply to Rahul proposal

Bigg Boss 14 - Salman Khan’s jokes, Disha Parmar reveals she has ‘sent her Reply’ to Rahul Vaidya’s marriage proposal Inside Bigg Boss 14's house,...

Happy Birthday Scarlett Johansson: Know If She Is On Social Media Or Not?

Black widow star Scarlett Johansson celebrates her 36th birthday today. However, All the social media and the internet are filled with wonderful birthday wishes to...

Ex Bigg Boss Contestant Sana Khan Marries To Mufti Anas In Gujarat

Ex Bigg boss fame contestant Sana Khan marries to Gujarat base Mufti Anas in Gujarat. Recently Sana Khan decided to leave the Entertainment industry to...

Home minister Amit Shah in Chennai updates- Inaugurate Projects

Home minister Amit Shah in Chennai updates - Inaugurate Development Projects, Ready for discussion on work done Union Home-Minister Amit Shah arrive in Chennai on...

Comedian Bharti Singh & Her husband Harsh House Detain by NCB

Comedian Bharti Singh & Her husband Harsh House Detain by NCB Comedian Bharti & Harsh - Anti Drug Investigation Agency Narcotics Control Bureau - Narcotics Control...

IAS Toppers Athar Khan & Tina Dabi file for Divorce with Mutual Agreement

IAS Toppers Athar Khan & Tina Dabi file for Divorce with Mutual Agreement in Court at Jaipur After 2 years of marriage, Tina Dabi and...

IBPS Clerk Prelims admit card 2020 Release, Official Website

IBPS Clerk Prelims admit card 2020 Release, Official Website IBPS Clerk Prelims 2020 - Institute of Banking Personal Selection - Institute of Banking Personnel Selection has...

Lockdown in Gujarat Rule Out, Gujarat CM Vijay Rupani says Only Curfew

Lockdown in Gujarat Rule Out, Gujarat CM Vijay Rupani says Only Curfew in Ahmedabad city No Lockdown Lockdown in Ahmedabad - As the 57 hour...

Is PubG Mobile India Launching Today In India?

The rumour had come that PubG Mobile India is launching on 20th November across all-over in the country. But yet there is not any official...

Wonder Woman 1984 – Coming on HBO Max & it’s a Christmas Miracle

Wonder Woman 1984 - Coming on HBO Max & it's a Christmas Miracle Wonder Woman 1984's Luck is one of several big movies that hang...

Shah Rukh Khan’s Latest Glance for His Upcoming Movie – Pathan

Shah Rukh Khan's Latest Glance for His Upcoming Movie - Pathan Shah Rukh Khan, in Dubai for the Indian Premier League - IPL, return to Mumbai...

Night Curfew Implemented In Ahmedabad From 9 PM To 6 AM

After looking at the sudden spike at the COVID-19 cases in Ahmedabad, Government of Gujarat implements night curfew in the city of Ahmedabad. However, Curfew...

Chapare Virus: More Dangerouse Than COVID-19 And Can Transmit Between Humans

Another Pandemic on its way after COVID-19, Chapare Virus can spread between humans and it can be deadly than COVID-19. This virus first discovered in...

Moderna Vaccine for Covid-19 Advancement Hikes Stock Markets

Moderna Vaccine for Covid-19 Advancement Hikes Stock Markets After a week Pfizer announce that its Covid-19 vaccine more than 90% effective, Moderna also announces preliminary data...

Kejriwal Government Thinks to Shut-down, Delhi Again in Lockdown ?

Delhi Again in Lockdown ? Kejriwal's Government Thinks to Shut-down Markets as Covid-19 Surges Arvind Kejriwal - Accepting the surge in COVID-19 cases in the...

Salman Khurshid and Ashok Gehlot Hits Out At Kapil Sibal For His Comment On Congress Leadership

Congress senior leaders Salman Khurshid and Rajasthan CM Ashok Gehlot Hits out at Kapil Sibal for his comments on congress leadership after party's huge...

Nitish Kumar Will Take Oath As Chief Minister Of Bihar 7th Time

Today on 4.30 PM Nitish Kumar will take oath as Chief Minister of Bihar 7th time and 4th-time straight term. Nitish Kumar is the face...

US president Trump tweets saying Nothing on “Rigged election”

US president - Trump tweets, Stepping back, saying Nothing on "Rigged election" US President Donald Trump said that Joe Biden won because the election fixes, according...

Bhai Dooj 2020 – Date, Puja time, Auspicious time, Puja Rituals

Bhai Dooj 2020 - Date, Puja time, Auspicious time, Puja Rituals & Importance Bhai Dooj is like a Raksha Bandhan, and it is celebrate every year...

Today Is Jharkhand Foundation Day And Birsa Munda’s Birth Anniversary.

Today on 15th November famous freedom fighter of Jharkhand Birsa Munda's birth anniversary. On this day, in the year 2000 Jharkhand become different state from...

Happy Diwali 2020: Deepavali Messages, Whishes, Status And Celebration Of Diwali

HAPPY DIWALI 2020: Diwali is celebrated every year because of the victory Lord Ram had over Ravan. And Lord Ram came back to his home...

Juhi Chawla Trending on Dhanteras, As An Eternal Symbol Of Nostalgia

Juhi Chawla Trending on Dhanteras, As An Eternal Symbol Of Nostalgia Juhi Chawla Celebrating Ace Actress - Twitter is the place to go if you want...

Barack Obama’s Monitoring after, Congress Reveals

Barack Obama’s Monitoring after, Congress Reveals that Rahul Gandhi Deficit & Talent 10 Years Ago Barack Obama's Wife : Controversial remarks Michelle Obama in 2017 have...

Bollywood Actor Asif Basra Found Hanged In His House In Himachal

Bollywood Actor Asif Basra recently starred famous web series Patal Lok and many more died at the age of 53. However, Asif Basra was found...

Arnab Goswami Granted Interim Bail By Supreme Court Of India

Republic Media Network's Editor in Chief Arnab Goswami Granted interim bail by Supreme Court of India. Earlier Bombay High-court rejected his bail petition so he...

Auspicious day Dhanteras 2020 – Date, Meaning, Puja Muhurat

Dhanteras 2020 - Date, Meaning, Auspicious Business Time, Puja Muhurat Dhanteras widely celebrate in North & West India, is consider an auspicious day to buy...