It seems TikTok may not be out of the woods just yet, with various conflicting stories around the pending Oracle/TikTok deal.
On Saturday, US President Donald Trump told reporters that he had given the Oracle-lead deal for TikTok’s operations in the US ‘his blessing’, which was enough for TikTok to put out two official statements about the app being ‘here to stay’.
The President’s verbal approval seemed to be the final step in the negotiation process – but then, on Sunday, following an official statement from TikTok’s parent company ByteDance, things got a little murkier on the specifics of the proposed deal.
First off, ByteDance clarified that it will not be transferring algorithms and/or technologies to Oracle, or any other US company, as part of the deal.
As per ByteDance:
“The current plan does not involve the transfer of any algorithms and technologies. Oracle has the authority to check the source code of TikTok USA.”
Read full article HERE.