ByteDance walks away from TikTok deal with Oracle after Donald Trump’s White House exit

[Feng Leng]

Exclusive | ByteDance walks away from TikTok deal with Oracle after Trump exit

The app’s Chinese owner had been in talks to sell its US operations, but Trump’s departure has destroyed its ‘raison d’être’.

www.scmp.com

TikTok’s Chinese owner ByteDance shelved a deal to sell the video-sharing app’s US operations to a group led by Oracle following Donald Trump’s exit from the White House, according to a source who has been briefed on the situation.

“The deal was mainly designed to entertain demands from the Trump administration,” said the source, who declined to be named. “But Trump is gone, and the raison d’être of the deal is gone with him.”

 

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Even if Trump was reelected instead of Biden the deal would have still been shelved, it was made clear through the Global times that the Chinese government had no intention to approve the deal no matter what even if Bytedance itself wanted to sell off TikTok.

 

[TheTruth]

lol owned

 

[Beast]

Tiktok still operate in US and making tons of money. It is the most successful social media apps in 2020 worldwide.