Walmart and Oracle's Bid to Acquire TikTok is Dead. Now What?
TikTok, the short-form video service owned by China's ByteDance, continues to face an uncertain future. In mid-2020, the Trump administration cited national security concerns related to data privacy and threatened to ban TikTok, forcing the company to find a buyer. Oracle (NYSE: ORCL) and Walmart (NYSE: WMT) stepped forward with bids to own partial stakes in TikTok Global, which would have housed the company's U.S. operations.