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The TikTok Acquisition: Separating Fact from Fiction

What Happened to TikTok?

In 2020, TikTok's parent company, ByteDance, faced intense scrutiny from the US government over national security concerns. As a result, the company was forced to explore options for selling a portion of the app's operations.

  • In September 2020, Oracle and Walmart announced a deal to acquire a 20% stake in TikTok Global, a new entity that would oversee the app's operations in the US and other countries.
  • The deal was subject to approval from the US government and was expected to help alleviate concerns over TikTok's data handling practices.

Was TikTok Bought?

While TikTok wasn't entirely bought out, the company did undergo significant changes in its ownership structure. In 2021, ByteDance reconstituted TikTok as a global company, with a board of directors and a new headquarters in Singapore.

Today, TikTok operates as a subsidiary of ByteDance, with a complex ownership structure that involves investors from around the world.

Frequently Asked Questions

Who owns TikTok?+

TikTok is owned by ByteDance, a Chinese technology company. However, the app's operations are managed by a global company with a complex ownership structure.

Was TikTok bought by Oracle or Walmart?+

Oracle and Walmart acquired a 20% stake in TikTok Global, but the app was not entirely bought out. ByteDance still maintains control over the company.

What does the future hold for TikTok?+

As a subsidiary of ByteDance, TikTok is expected to continue growing and evolving as a social media platform. However, the company may face ongoing scrutiny from governments around the world over its data handling practices.

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