Friday, 24 March, 2023

ByteDance to place TikTok’s global headquarters in the US

<p>ByteDance will place TikTok&rsquo;s new global headquarters in the US in an attempt to escape Trump ban, CGTN reported. The firm will continue to retain maximum stake in the platform, whereas Oracle and Walmart will own a minority stake. Independent third parties will serve as the directors of the new company. US users&rsquo; data will be stored in the country itself and Oracle will serve as the data service provider. TikTok also committed to creating 20K new jobs.</p>