Trump Approves TikTok Deal With Oracle and Walmart Joins

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GOOD News TikTokers, Trump announced early Saturday night that he will approve TikTok’s deal with Oracle.

“I have given the deal my blessing — if they get it done that’s great, if they don’t that’s okay too,” Trump told reporters on the White House South Lawn before departing for North Carolina. “I approved the deal in concept.”

Oracle announced it was chosen as TikTok’s secure cloud provider and will become a minority investor with a 12.5% stake. TikTok confirmed Oracle’s role and said it was working with Walmart on a commercial partnership. Both companies will take part in a pre-IPO financing round in which they can take up to a 20% cumulative stake, TikTok said. 

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Source: CNBC