BEIJING: China’s ByteDance Ltd is seeking a valuation of US$60 billion for TikTok as Oracle Corp and Walmart Inc take stakes in the short-video app’s business to address US security concerns, Bloomberg News reported on Sunday, citing an unnamed person familiar with the matter.
The two companies would pay a combined US$12 billion for their stakes if they agree to a US$60 billion asking price, Bloomberg reported. The final valuation had not been set as the companies worked out the equity structure and measures for data security, the Bloomberg report added.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
China's ByteDance gets Trump nod to avoid TikTok shutdownWASHINGTON/NEW YORK: U.S. President Donald Trump said on Saturday he supported a deal in principle that would allow TikTok to continue to operate in the United States, even as it appeared to conflict with his earlier order for China's ByteDance to divest the video app.
Source: staronline - 🏆 4. / 75 Read more »
Opinion: TikTok and Instagram face off for luxury influencersSince short-form video took the world by storm, ByteDance Inc’s TikTok has begun nibbling away at Instagram’s dominance.
Source: staronline - 🏆 4. / 75 Read more »
TikTok filed a complaint against Trump administration to block U.S ban - Bloomberg newsWASHINGTON: Popular video-sharing app TikTok has asked a U.S. judge to block the Trump administration banning on the Chinese social-media network, Blo...
Source: theSundaily - 🏆 25. / 51 Read more »
China slams US ‘bullying’ over Tiktok, WeChat | Malay MailSHANGHAI, Sept 19 — China today accused the United States of “bullying” and suggested it may take unspecified countermeasures after Washington banned downloads of popular video app TikTok and effectively blocked the use of the Chinese super-app WeChat. “China urges the US to abandon...
Source: malaymail - 🏆 1. / 86 Read more »
Wechat, TikTok ban is test for open internet, free expressionWASHINGTON: The US ban on Chinese-owned apps WeChat and TikTok sets up a pivotal legal challenge on digital free expression with important ramificatio...
Source: theSundaily - 🏆 25. / 51 Read more »
Trump gives blessing to deal to allow TikTok to continue to operate in USA new company called TikTok Global with 53 pct US shareholders will be created.
Source: malaysiakini - 🏆 20. / 51 Read more »