News > ByteDance to place TikTok’s global headquarters in US to escape Trump ban
ByteDance to place TikTok’s global headquarters in US to escape Trump ban
The Siasat | 16/09/2020 11:50 PM | Click to read full article
China's ByteDance has decided to place the headquarters of its popular video platform app TikTok in the US in order to escape President Donald Trump's ban.
As per the plan, TikTok will remain the majority shareholder of the new US-headquartered company, and tech firm Oracle will be a minority shareholder. Other potential US investors such as the world’s largest retailer Walmart, which had launched a joint bid with Microsoft, would own a minority stake.
