What Happened to TikTok?
In 2020, the Trump administration announced that TikTok's parent company, ByteDance, would have to divest its US operations or face a ban. This led to a deal with Oracle and Walmart to create a new entity, TikTok Global.
- ByteDance would retain 80% ownership of TikTok Global.
- Oracle and Walmart would own 20%.
However, the deal was met with skepticism, and its fate remained uncertain. In 2021, a US judge blocked the Biden administration's attempt to ban TikTok, citing concerns over free speech.
Current Status of TikTok's Ownership
In 2022, ByteDance confirmed that it had no plans to sell TikTok. The app continues to operate independently, with its headquarters in Singapore.
- TikTok has been expanding its features, including e-commerce capabilities and live streaming.
- The app has become a significant player in the social media landscape.
Despite rumors and speculation, there has been no official announcement about TikTok being sold.