Tag: TikTok

TikTok deal aims to thread needle on US, China demands

A fragile deal to put the popular video app TikTok in American control appeared in jeopardy Monday amid disagreement on the ownership structure and Chinese involvement.

The plan unveiled over the weekend would make Silicon Valley data giant Oracle the technology steward for the social platform and allow retail giant Walmart a stake as a commercial partner.

But the deal was being portrayed in different terms in the two countries. Here are key points:

– Ownership – 

According to US officials, the deal would establish a new entity called TikTok Global with Oracle managing data security through its cloud servers.

Read more

Trump touts ‘fantastic’ TikTok deal with Walmart and Oracle

Popular video app TikTok announced Saturday it has proposed an agreement with Oracle as its US technology provider and Walmart as a commercial partner, a potential deal US President Donald Trump touted as “fantastic.”

“We are pleased that the proposal by TikTok, Oracle, and Walmart will resolve the security concerns of the US Administration and settle questions around TikTok’s future in the US,” a spokeswoman for TikTok, owned by China’s ByteDance, told AFP.

Oracle will become the “trusted technology provider, responsible for hosting all US user data and securing associated computer systems to ensure US national security requirements are fully

Read more

He helped expand Disney’s empire. Can Kevin Mayer do the same for TikTok?

Kevin Mayer <span class="copyright">(Jesse Grant/Getty Images for Disney)</span>
Kevin Mayer (Jesse Grant/Getty Images for Disney)

Kevin Mayer, who led the rise of Walt Disney Co.’s streaming business and served as the architect of blockbuster deals, is leaving the company to run the fast-growing mobile video app TikTok, the company said Monday.

Mayer will become chief executive of TikTok as well as chief operating officer of its Chinese parent company ByteDance.

Mayer’s departure comes shortly after Disney’s board selected parks and products chairman Bob Chapek to succeed Bob Iger as its CEO in late February. Iger, who’d been CEO for 15 years, took on the role of executive chairman.

Read more