TikTok will open a round of Pre-IPO financing in the near future, Oracle and Wal-Mart will invest a total of nearly 100 billion yuan (approximately US$12.5 billion) in this round of financing, and TikTok’s valuation is expected to be At nearly 500 billion yuan (approximately 62.5 billion US dollars) , Bytedance will continue to control TikTok, Oracle and Wal-Mart will acquire 12.5% and 7.5% of TikTok’s shares, respectively .
Naijatechnews previously reported that US President Trump has “in principle” agreed to the TikTok solution received by the US government, which does not involve technology and algorithm transfer. At the same time, TikTok will form a new board of directors and management. Bytedance has also formed a principled consensus on TikTok cooperation with Oracle and Wal-Mart.
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