Marketing 2 min read

TikTok Ban in the United States has Been Delayed for a Week

antonbe / Pixabay.com

antonbe / Pixabay.com

TikTok ban in the United States has been put off for another week as Walmart and Oracle come close to reaching an acquisition deal.

An executive order banned TikTok on Android and iOS app stores in the United States starting September 20.

It means users won’t be able to download the TikTok app on their phones after the specified date. Also, individuals who have the social app on their phone after the September 20 ban won’t receive any update.

An outright restriction of TikTok — starting November 12 — should have followed the app ban. At that time, the service would no longer be accessible in the United States.

What’s more, the ban covers any workaround to access the social media app in the country.

The United States’ department of commerce explained in a statement:

“The President has provided until November 12 for the national security concerns posed by TikTok to be resolved. If they are, the prohibitions in this order may be lifted.”

It seemed inevitable that Apple and Google would remove TikTok from app stores in the U.S. starting September 20. Now, the app will remain for another week as Oracle and Walmart come closer to reaching a deal.

There’s more.

The Deal to Prevent TikTok Ban in the United States

According to Bloomberg, conditions of the deal meet the requirement that ByteDance , TikTok’s parent company, has no oversight of TikTok’s U.S. operations. It also satisfies the demand that the government receives a cut of the sales.

The report suggests that ByteDance is seeking a $60 billion valuation. Meanwhile, Oracle and Walmart would pay a combined $12 billion for 12.5 percent and 7.5 percent share, respectively.

The deal will result in a new company called TikTok Global.

ByteDance would have no decision-making authority nor ability to peer into the company’s activities. Instead, Walmart’s Chief Executive Officer, Doug McMillion, will serve on TikTok Global’s board of directors.

Also, Oracle will host all the user data in the United States. Bloomberg also reported that the company intends to have its headquarter in Texas and create tens of thousands of jobs.

Last week, TikTok released a statement that reads:

“We are pleased that the proposal by TikTok, Oracle, and Walmart will resolve the security concerns of the U.S. administration and settle questions around TikTok’s future in the U.S.”

We’ll find out within the week if the deal satisfies the U.S. government. If not, app stores in the country must remove the social media app.

Read More: TikTok Reveals User Growth Numbers for the First Time

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