【Financial News New York = Reporter Lee Byung -chul】 US President Donald Trump signed an administrative order from the Chinese byte dance to separate the Tiktok US business. According to the agreement, TikTalk US’s corporate value was estimated to be about $ 14 billion (about 19 trillion won).
President Trump signed an administrative order at the White House office on Monday (25) and said, “We will confirm the details within 120 days.”
In terms of structure, Oracle, Private Fund Silver Lake, and Abu Dhabi Sovereign Affairs MGX will secure about 45%, and the byte dance will hold 19.9%. Existing US investors, General Atlantic, and Susques are also involved.
US vice president JD Vance said, “It is a structure that considers investor protection and national security at the same time.”
The core of the agreement is that Oracle is in charge of TikTalk’s algorithm and content management. Oracle founder Larry Ellison is a key figure in Tic Talk US, which is responsible for data security and recommendation system control. The White House explained, “China has licensed algorithms and intellectual property to the US.”
The participation of Abu Dhabi Sovereign Women’s Fund is likely to lead to a backlash in the US Congress. Banjung hard -line lawmakers have called for complete blocking of Tic Talk or completely separation from byte dance. But President Trump emphasized that “this agreement is advantageous to US investors and meets national security.”
Ellison has recently expanded its influence in the media and entertainment markets, including the acquisition of Paramount and the implementation of Warner Brothers. If you get the Tic Talk US, you will be able to build a huge platform that covers social media, Hollywood, sports, and news.
Tic Talk has 170 million monthly active users in the United States and 65 million active users. Compared to the number of North American daily users (98 million) in competitor Snapchat.
However, the market value is set at $ 14 billion, similar to snaps.
US President Donald Trump is speaking on the 25th (local time) at the White House office in an administrative order. Photo = Newsis
Pride@fnnews.com Correspondent Lee Byung -chul
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