China’s ByteDance Ltd is seeking a valuation of $60 billion for TikTok as Oracle Corp and Walmart Inc take stakes in the short-video app’s business to address U.S. security concerns, Bloomberg News reported on Sunday, citing an unnamed person familiar with the matter. Oracle will take a 12.5% stake in TikTok Global and store all… Read More ByteDance seeks $60billion in TikTok’s U.S. valuation
A U.S. judge early Sunday blocked the Trump administration from requiring Apple Inc and Alphabet Inc’s Google to remove Chinese-owned messaging app WeChat for downloads by late Sunday. U.S. Magistrate Judge Laurel Beeler in San Francisco said in an order that WeChat users who filed a lawsuit “have shown serious questions going to the merits… Read More U.S. judge blocks order banning WeChat downloads on app stores
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. ByteDance was racing to avoid a crackdown on TikTok after the U.S.… Read More U.S. President Donald Trump approves deal allowing operations of TikTok
ByteDance will place short-video app TikTok’s global business in a new U.S.-headquartered company with Oracle Corp ORCL.N investing as a minority shareholder, the Financial times reported on Tuesday, citing people familiar with the matter.
ByteDance abandoned the sale of TikTok in the United States on Sunday to pursue a partnership with Oracle Corp that it hopes will spare it a U.S. ban while appeasing China’s government, people familiar with the matter said. The Beijing-based company had been in talks to divest TikTok’s U.S. business to Oracle or a consortium… Read More ByteDance abandons sale of TikTok U.S. operations, seeks Oracle partnership deal
Zoom Video Communications Inc said on Tuesday it has started using Oracle Corp’s cloud computing service to help handle the surge in online video call volumes brought on by the novel coronavirus pandemic. As corporations and schools shift to remote work and billions of people subject to stay-at-home orders seek ways to remain connected, Zoom… Read More Zoom enlists Oracle cloud services following video calls surge