What TikTok’s big deal means for cloud, e-commerce: TikTok Global created with Oracle, Walmart owning 20%

– “Along with the 7.5% stake in TikTok Global, Walmart will provide “ecommerce, fulfillment, payments and other omnichannel services to TikTok Global.”

– Walmart CEO Doug McMillon will be one of the five board members of the newly created company.

– The plan is to bring TikTok public in the US “within the next year.”

– The move to make TikTok’s US operations independent will create 25,000 jobs.
TikTok Global will pay more than $5 billion in taxes to the US Treasury.”

https://www.google.com/amp/s/www.zdnet.com/google-amp/article/what-tiktoks-big-deal-means-for-cloud-e-commerce-tiktok-global-created-with-oracle-walmart-owning-20/

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