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We ve been following the TikTok / Oracle deal for some time here on TechCrunch, and over the weekend, it seemed like we finally got to the finish line of one of the strangest M&A processes we ve seen. But the last 48 hours have made everything so confused, I am not sure we even know what the deal is, despite it being approved.President Trump reportedly has approved the Oracle deal for TikTok US operationsOvernight, my colleague Rita Liao put together a nice fact check on what we know now about the TikTok deal, based on ByteDance s offic new balance sneaker ial statements. The key is that China s ByteDance confirms it will retain an 80% stake in TikTok after selling a total of 20% to Oracle, its trusted technology partner, and Walmart, its commercial partner. TikTok fact checks: US IPO, Chinese ownership, $5B in taxesThat s been our assumptio mizuno volleyballschuh n, that Oracle is taking 12.5% in TikTok Global, and Walmart will take 7.5%. The deal terms would value TikTok at about $60 billion by salomonschuhe some estimates. |
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