ByteDance: TikTok is worth $ 60 billion

A twist yesterday when the White House chose to postpone the ban on TikTok by one week thanks to the intervention of Oracle. To definitively avoid the risk, however, it will be necessary to create a new reality, baptized "TikTok Global", based in the United States (Texas) and owned for at least one fifth by American companies. Walmart is also in the game.

20% of TikTok Global to Oracle and Walmart: how much is it worth?

Oracle is expected to acquire 12.5%, while 7.5% it should end up in the hands of the group that manages the chain of stores of the same name. Now ByteDance, the Beijing giant that currently controls the social network, sets the price: the business linked to the platform, that is to say a total of 60 billion dollars (a figure higher than the 50 billion assumed at the end of July). This is what Bloomberg reports. This would result in an expense of 7.5 billion for Oracle and 4.5 billion for Walmart.

What is certain is the management of all data relating to the activity in the United States on the cloud infrastructure put available from the Redwood company. This will ensure that the information and content of American users never leaves national borders, thus meeting the demands made by Donald Trump and the overseas authorities in terms of security and privacy.

The relative knot needs to be solved. a $ 5 billion investment in education-related projects mentioned by the US President in his speech and of which ByteDance claimed not to be aware.

Recall that at first Microsoft also tried to reach out to TikTok by announcing an official negotiation with the Chinese group at the beginning of August, then setting the idea aside in the last few weeks.

Source: Reuters