TikTok's new parents: Oracle, Walmart, and Bytedance investors (in that order)
Could write a 7-volume series after this ends... If it ever ends. The TikTok ban saga has dramatically reversed course (again). In August, President Trump said he would ban TikTok unless an American company acquired its US operations by September 20th (aka: yesterday). The concern is that TikTok's Chinese-owned parent Bytedance could pass American data to the Chinese government.
Deep breaths... The ban on US TikTok downloads will be delayed to September 27 — but it could be scrapped altogether if the partnership moves forward. Here's the deal:
TikTok Global would be the new TikTok... The TikTok we know and love/hate isn't allowed in China. China has Bytedance's Douyin, the non-international (censored) version of TikTok. The international TikTok is already banned in its largest market of India, and has faced scrutiny from Europe, Canada, and others. If this US-based TikTok Global is formed, they'll all probably get on it.