1. Introduction

TikTok has become a global sensation, with millions of users around the world creating and sharing videos on the platform every day. But recently, news broke that the company had been sold to a new owner, raising questions about what this means for the future of social media and what it could mean for users of the app. In this article, we’ll take a look at what happened with the sale of TikTok and why it was sold in the first place, as well as explore what this could mean for social media going forward.

2. What is TikTok?

TikTok is an app developed by Chinese tech giant ByteDance that allows users to create and share short videos online. It has quickly become one of the most popular apps in the world, with over 800 million monthly active users across 150 countries worldwide. The app has become known for its unique content and creative challenges, which have helped it gain traction among younger audiences in particular.

3. The Sale of TikTok

In August 2020, news broke that ByteDance had agreed to sell a majority stake in its U.S.-based operations to Oracle Corporation and Walmart Inc., two American companies that are now part owners of TikTok Global (the U.S.-based version of the app). This deal was approved by President Donald Trump after months of negotiations between ByteDance and U.S.-based companies over concerns about data security and national security issues related to the app’s Chinese ownership structure.

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4. Who Bought TikTok?

Oracle Corporation and Walmart Inc., two major American companies, purchased a majority stake in TikTok Global from ByteDance as part of an agreement approved by President Donald Trump in August 2020. Oracle will own 12% of TikTok Global while Walmart will own 7%. The remaining 81% will be owned by existing shareholders including ByteDance itself, which will remain majority owner despite selling off its majority stake in U.S.-based operations to Oracle and Walmart Inc..

5. Why Was TikTok Sold?

The sale was prompted primarily due to concerns about data security given that ByteDance’s Chinese ownership structure raised questions about how user data might be used or shared by China’s government or other entities outside of U.S control – something that would not be allowed under current laws governing technology companies operating within America’s borders.By selling a majority stake in its U.S.-based operations to two American companies – Oracle Corporation and Walmart Inc., both subject to stringent US laws – ByteDance was able to allay some fears regarding data security while still keeping control over its core business operations outside America’s borders where it remains largely free from such restrictions.

6. What Does This Mean for the Future of Social Media?

The sale of a majority stake in one of social media’s largest players could have far-reaching implications for how other platforms operate going forward.For example,if other countries follow suit by requiring foreign-owned tech companies operating within their borders to adhere to local laws regarding data privacy,then this could lead to more localized versions being created or even completely separate platforms being developed entirely outside those countries’ jurisdiction.Additionally,this could also lead to increased scrutiny from governments around the world when it comes to regulating big tech firms like Facebook,Google,etc.

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7 Conclusion

The recent sale of a majority stake in one of social media’s biggest players has raised many questions about what this means for both users and tech giants alike going forward.While it remains unclear exactly how this will affect social media as we know it today,it is clear that there are likely going to be some changes coming down the line when it comes to how these platforms operate within different countries’ legal frameworks.As always,Famouz is here as your go-to source when it comes to staying up-to-date on all things related to social media marketing services – so get in touch today!

8 Get In Touch With Famouz For Social Media Marketing Services

Famouz is an experienced team dedicated to helping you reach your goals through effective social media marketing services tailored specifically for your business needs.From creating compelling content strategies designed specifically for your target audience,optimizing campaigns for maximum reach & engagement,managing influencer relationships & collaborations,developing creative visuals & graphics – Famouz can help you get ahead on all fronts.So if you’re looking for expert advice on how best leverage social media marketing services for your business,don’t hesitate – get in touch with Famouz today!


Who owns TikTok now?

ByteDance is a private company headquartered in Beijing that owns TikTok. On February 23, 2023, it was announced that TikTok would be acquired by ByteDance for a total of $1 billion.

Was TikTok sold to the US?

In 2020, ORCL announced that it had acquired a 12.5% stake in TikTok and would run its cloud services and security for the app. The deal was praised by President Trump and said to be helping to make TikTok a company owned and controlled by Americans. On January 3, 2023

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Was TikTok bought out?

TikTok is owned by the Chinese company ByteDance. On December 9, 2022, it will be 10 years since TikTok was first introduced to the world.

Is TikTok still owned by China?

ByteDance, the Chinese parent company of social media platform TikTok, has increased its lobbying efforts in the United States since 2020 as relations between the United States and China continue to sour. As of last year, ByteDance was the fourth-largest online company in terms of lobbying expenditures.

Who controls TikTok in the US?

ByteDance is the company that owns TikTok, which was founded on December 13, 2022.

Is TikTok 100% owned by the American company?

At this time, TikTok is wholly and privately owned by a Chinese parent company, ByteDance. Some people are worried that TikTok will be used to collect and manipulate users’ data by the Chinese government or related entities.