ByteDance deal for US TikTok said to give Oracle access to source code, includes plan for IPO in a year

//ByteDance deal for US TikTok said to give Oracle access to source code, includes plan for IPO in a year

ByteDance deal for US TikTok said to give Oracle access to source code, includes plan for IPO in a year

The new US company that TikTok’s owner Bytedance Ltd. plans to form with Oracle Corp. intends to hold an initial public offering in about a year, according to people familiar with the matter.The new company, which would be called TikTok Global, according to Treasury Secretary Steven Mnuchin, will be the result of a transaction forced by President Donald Trump last month because of national security concerns about TikTok’s Chinese ownership. Bloomberg News reported earlier that the Treasury…

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By | 2020-09-18T01:25:39+00:00 September 18th, 2020|Technology|Comments Off on ByteDance deal for US TikTok said to give Oracle access to source code, includes plan for IPO in a year