At Oracle and Walmart 20% of TikTok

Here is good news for TikTok, the solution has been found !!! They funny part is that with this deal, Walmart is officially entering the tech sector as well. Would be interesting to see how they will move forward from that.

Oracle and Walmart have reached an agreement to acquire a 20% stake in TikTok's global operations as part of a pre-financing the initial public offering (IPO) of the company.

Oracle will acquire 12.5% of the video sharing platform, while Walmart will acquire 7.5%.

The two companies will set up a new company, TikTok Global, which will be listed on the US stock market in less than 12 months from the date of the transaction.

Oracle will act as TikTok's secure cloud technology provider, while Walmart will be a trading partner of the platform with which it will enter into commercial agreements for the provision of e-commerce, payment and other multi-channel services to TikTok Global.

Speaking to reporters on Saturday, Donald Trump said he liked the "idea" of the deal and gave his "blessings", although he was still far from the US president's initial demand that TikTok be taken entirely into US "hands".

Source,

https://www.capital.gr/forbes/3482041/sta-xeria-ton-oracle-kai-walmart-to-20-tis-tiktok-me-tis-eulogies-tramp

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