Oracle Wins TikTok Bid
TikTok says Trump Administration has Yet to Review Ban Deadline
Sourced from Cosmico TikTok has called for the US Court of Appeals to review the ban by Trump administration’s Committee on Foreign Investment in the United States (CFIUS). The social media platform says that it has been weeks since it received an update about the deadline for ByteDance – TikTok’s parent company – to sell off US assets. “For a year, TikTok has actively engaged with CFIUS in good faith to address its national security concerns, even as we disagree with its assessment,” reads a statement from TikTok. /* custom css */ .tdi_3_4dd.td-a-rec-img{ text-align: left; }.tdi_3_4dd.td-a-rec-img img{ margin: 0 auto 0 0; } “In the nearly two months since the President gave his preliminary approval to our proposal to satisfy those concerns, we have offered detailed solutions to finalize t...
US Federal Court Delays TikTok Ban
Sourced from Cosmico TikTok has been awarded a life-line after a US federal court ruled to delay its impending ban. Earlier this year, US President Donald Trump said the popular Chinese video-sharing platform’s ability to handle user data as well as its relationship with parent company, ByteDance, raised national security concerns. The Verge reports that motivation for the ban stems from the fact that “lawmakers allege that TikTok could be pressured into handing over data or other intelligence to the Chinese Communist Party”. However, TikTok hit back saying that was “led by an American CEO, with hundreds of employees and key leaders across safety, security, product, and public policy here in the US. We have no higher priority than promoting a safe and secure app experience for our use...
Oracle Reportedly Wins TikTok Bid
Sourced from Cosmico Oracle and ByteDance have reached a “technical partnership” for TikTok’s US operations, according to The Wall Street Journal. This, however, does not include the sale of the popular video-sharing app. A number of people familiar with the matter believe that Oracle will address the national security concerns surrounding TikTok, raised by the Trump Administration. Sources told FT that the US tech company was already in “preliminary talks with TikTok owner Bytedance, and was working with a group of investors that already holds a stake in the Chinese company.” This comes shortly after Microsoft revealed that ByteDance has rejected its bid to acquire TikTok – the acquisition would’ve allowed Microsoft to own and operate the TikTok service in the United States, Can...
