Friday, 24 March, 2023
ByteDance seeks valuation of $60 bn for TikTok
<p>Bytedance is seeking a valuation of $60 bn for TikTok after the US president Donal Trump "approved the deal in the concept." Oracle will buy a 12.5% stake in the new company -- TikTok Global, while Walmart has agreed to buy 7.5%. Walmart’s CEO Doug McMillon, along with three other American's, will be among the five directors on TikTok Global’s board. Oracle and Walmart would pay a combined $12 bn for stakes if they agree to the asking price.</p>
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