Looks like TikTok is safe for now! As you remember Donald Trump gave the Chinese owned company a deadline of September 20th! He said the company needed to be purchased by an American company or else he would BAN the app from the US!
Then a week ago it came out that the company Oracle would purchase TikTok! However as President, Donald Trump needed to approve the purchase!
It came out yesterday that Donald Trump gave his "blessing"
According to CNN
The Commerce Department confirmed in a statement Saturday evening that it would delay — by one week — restrictions that were originally to take effect on Sunday.
ByteDance will continue to be majority owner of TikTok underthe agreementTrump said he approved, according to a person familiar with the matter.
Speaking to reporters, Trump said he approved the deal "in concept."
"I have given the deal my blessing," Trump said. "If they get it done, that's great. If they don't, that's okay, too."
The deal will also include a $5 Billion dollar fund for Education but did not say which company will have to pay for it!
TikTok made a statement and said
"As part of this proposal, Oracle will become our trusted technology provider, responsible for hosting all US user data and securing associated computer systems to ensure US national security requirements are fully satisfied," TikTok said. "We are currently working with Wal-Mart on a commercial partnership as well. Both companies will take part in a TikTok Global pre-IPO financing round in which they can take up to a 20% cumulative stake in the company. We will also maintain and expand TikTok Global's headquarters in the US, while bringing 25,000 jobs across the country."
In the meantime while they work out the specifics now we can go on and enjoy TikTok - are you following me on TikTok??