Phew! The summer’s economic-diplomatic soap opera is about to end. TikTok, an ultra-popular mini-video platform, especially among the youngest, will not ultimately be banned from the United States or acquired by Microsoft. On the other hand, it will join forces with the Californian software group Oracle (which would buy 12.5% of the shares) and the distribution giant Walmart (7.5% of the shares), followed by an IPO in New York. within a year. Its current owner, the Chinese ByteDance, would remain in the capital, but in a minority manner.
Thus ends the crazy summer of a company with a Beijing shareholder caught in the whirlwind of the trade war between the United States and China. Back to a real economic “drama”, which has multiplied the twists and turns in recent months.
June 20: TikTok, anti-Trump voice
In the midst of the Covid-19 pandemic and with the multiple containment measures around the world, TikTok has fared well. Its owner, the Chinese group ByteDance, does not give statistics, but some observers believe that the mini-platform videos now attracts more than a billion users worldwide, including 10 million in France. Enough to impose it as the new essential social network, and the only one not to be owned by an American company. What also to increase the valuation of the group based in Beijing, estimated today at 140 billion dollars (118 billion euros).
All crazy from TikTok
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