Trump Approves Oracle, Walmart Deal With TikTok
President Donald Trump has given his consent to the deal whereby the American companies Oracle and Walmart would partner with TikTok in the U.S, thereby allowing the fast-growing social app to maintain operation in the United States of America.
“I have given the deal my blessing if they get it done that’s great if they don’t that’s okay too. I approved the deal in concept,” Trump said. He further disclosed the new firm will likely be registered in Texas.
Oracle has also announced that it has been chosen as TikTok’s secure cloud provider and will become a minority investor with a 12.5% stake. Oracle CEO Safra Catz spoke elaborately on the deal saying; “We are a hundred percent confident in our ability to deliver a highly secure environment to TikTok and ensure data privacy to TikTok’s American users, and users throughout the world. This greatly improved security and guaranteed privacy will enable the continued rapid growth of the TikTok user community to benefit all stakeholders.”