ByteDance will continue to be a majority shareholder in the TikTok under a proposed deal with Oracle

ByteDance, TikTok’s proprietor, will keep on being a larger-part shareholder in the video application under a proposed deal with Oracle being explored by the Trump administration this week. On the off chance that the US government favors the deal, TikTok would turn into a worldwide organization with central command in the US while Oracle will have TikTok’s client information and survey TikTok’s code for security.

Under the proposition, the US government would favor members of TikTok’s board; one board member is to be a specialist in information security and would hold a highly confidential security leeway. That deputy would likewise be answerable for leading a security board of trustees whose members would be US residents independently endorsed by the US government. The worldwide organization is relied upon to file for an IPO in around a year with plans to be recorded on a US stock exchange.