The sale of TikTok’s overseas operations is the latest development. Media reported that TikTok has selected a final buyer for its US, New Zealand and Australian operations in a deal worth between $20 billion and $30 billion, as soon as the weekend. It’s unclear exactly which U.S. company or u.S. company got the last laugh, but it looks like a Microsoft-Wal-Mart union or Oracle are more likely to win.
Oracle wants to pay ByteDance half of its two-year TikTok profits with $10 billion in cash, $10 billion in Oracle stock and two years of TikTok. In 2019, TiTok has revenues of $17 billion, more than 800 million active users and a valuation of $100 billion.
Last week, however, the state issued a provision restricting exports of “personalized information push service technology based on data analysis”, which was later interpreted by industry insiders as or related to the protection of TikTok algorithm technology, which covers at least 15 million lines of machine learning Java code.
ByteDance is understood to have until November 12 to complete the sale of its US business or face closure.