TikTok, The Party Don’t Stop 🥳

TikTok, The Party Don’t Stop

President Donald Trump has given approval to a deal by Oracle and Walmart to take over a portion of TikTok. The tentative agreement would allow the app to remain available in the U.S.

Oracle will host all U.S. user data under the new agreement, but some tech experts are not convinced this deal solves the national security issues. ByteDance, TikTok’s Chinese parent company, will still have a majority ownership position.

The deal should be a big boost for Oracle. The company has been struggling to compete with the likes of Amazon, Microsoft and Google in the cloud storage space. This agreement could help reverse that course.

Walmart hopes to benefit by getting better access to younger consumers. TikTok users will likely be able to shop Walmart online through the app.

The most exciting part of the deal? TikTok may be on its way to an American IPO. The tech company would certainly be an exciting new instrument for investors to trade.

I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.

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