It was a bizarre weekend to finish a bizarre summer time for one of many nation’s most poular social media apps, TikTok. First, in August, the Trump administration threatened to ban TikTok until it discovered a US purchaser. Then final weekend, one-time darkish horse Oracle emerged victorious in a federally mandated contest to amass TikTok. Besides, it seems, Oracle is not really buying TikTok in any respect—and Oracle and TikTok’s present father or mother firm, ByteDance, disagree on who’s going to be in cost.
In case you’re confused, you are in good firm. This is our try to put out all the pieces we find out about TikTok, Oracle, and their mysterious deal to date.
What’s TikTok? Who owns it?
TikTok is a particularly common short-form video app used worldwide. The app appeared in its present incarnation after its father or mother firm, Beijing-based ByteDance, acquired US startup Musical.ly in 2017 and built-in it with its present TikTok product below the TikTok identify.
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