• US trading firm Susquehanna reportedly owns 15% of TikTok-owner ByteDance, a stake which is potentially worth more than $15 billion.
  • Located just outside of Philadelphia, Susquehanna joined a $5 million investing round in ByteDance the year that it was founded, and invested in Musical.ly which later merged into TikTok.
  • Susquehanna is now stuck in the middle of US-China tensions as ByteDance waits for both governments to approve a deal that includes Oracle and Walmart taking a stake in the Chinese company.
  • Visit Business Insider’s homepage for more stories.

US trading firm Susquehanna quietly owns 15% of TikTok parent firm ByteDance, according to the Wall Street Journal, a stake potentially worth billions.

Susquehanna’s stake may be worth as much as $15 billion, according to PitchBook data cited by the Journal. This reportedly makes Susquehanna the biggest external investor in the Chinese social-media company. The firm is a giant in options trading,

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By Echo Wang and Yingzhi Yang

NEW YORK/BEIJING, Sept 21 (Reuters)China’s ByteDance said on Monday that TikTok’s global business will become its subsidiary, even as Oracle Corp ORCL.N and Walmart Inc WMT.N said over the weekend that they and U.S. investors would own the majority of the video app following a deal with U.S. President Donald Trump’s administration.

Trump signed an executive order on Aug. 14 giving ByteDance 90 days to sell TikTok, amid concerns that the personal data of as many as 100 million Americans that use the app could be passed on to China’s Communist Party government. On Saturday, he said he supported a deal in principle that would allow TikTok to continue to operate in the United States.

Accounts of the deal differ. ByteDance said on Monday that it will own 80% of TikTok Global, a newly created U.S. company that will own most

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a close up of a toy: FILE PHOTO: Small toy figures are seen in front of a Tiktok logo in this illustration taken

© Reuters/Dado Ruvic
FILE PHOTO: Small toy figures are seen in front of a Tiktok logo in this illustration taken

(Reuters) – China’s ByteDance Ltd is seeking a valuation of $60 billion for TikTok as Oracle Corp and Walmart Inc take stakes in the short-video app’s business to address U.S. security concerns, Bloomberg News reported on Sunday, citing an unnamed person familiar with the matter.

Oracle will take a 12.5% stake in TikTok Global and store all its U.S. user data in its cloud to comply with U.S. national security requirements, the companies said on Saturday. Retail giant Walmart said it would take a 7.5% stake.

The two companies would pay a combined $12 billion for their stakes if they agree to a $60 billion asking price, Bloomberg reported. https://bloom.bg/33H3rT6

ByteDance, TikTok, Oracle and Walmart did not immediately respond to requests for comment on the report.

The final valuation had

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By Yingzhi Yang and Brenda Goh

BEIJING (Reuters) – China will need to approve ByteDance’s proposed deal with Oracle Corp for its TikTok app, the Chinese company said on Thursday, indicating how its bid to stave off a ban in the United States could be further complicated.

Oracle has submitted a proposal to the Trump administration that will allow it to become a technology partner in the TikTok app, as ByteDance hopes to head off a Trump order that it divest TikTok’s U.S. operations.

The proposal envisages making TikTok Global a U.S.-headquartered company.

But U.S. President Donald Trump on Wednesday raised questions about ByteDance’s plans to keep a majority stake in TikTok’s U.S. operations and said he did not favor the idea of the Chinese firm retaining control, after six Republican lawmakers urged him to reject the proposal.

Trump has said he would ban TikTok in the United States as

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  • Microsoft on Sunday announced that TikTok’s owner, ByteDance, had rejected its bid to acquire the US operations of the popular video app.
  • The move leaves Oracle as the sole publicly known contender to purchase the American operations of TikTok, which has the support of President Donald Trump and a group of ByteDance’s US investors.
  • Several news outlets reported that ByteDance had named Oracle as a US partner, though the company’s bid has not been publicly accepted by the Chinese internet company.
  • The Wall Street Journal reported last Wednesday that ByteDance was in talks with the US government regarding “possible arrangements” that would avoid a “full sale” of TikTok’s operations.
  • Visit Business Insider’s homepage for more stories.

The Chinese owner of TikTok has rejected Microsoft’s offer to buy the popular video app’s US operations, according to a statement from Microsoft released Sunday.

The move left Oracle as the sole publicly known

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By Echo Wang and Greg Roumeliotis

(Reuters) – ByteDance abandoned the sale of TikTok in the United States on Sunday to pursue a partnership with Oracle Corp that it hopes will spare it a U.S. ban while appeasing China’s government, people familiar with the matter told Reuters.

The Beijing-based company had been in talks to divest TikTok’s U.S. business to Oracle or a consortium led by Microsoft Corp after U.S. President Donald Trump ordered the sale last month and threatened to shut down the short-video app in the United States.

While TikTok is best known for its anodyne videos of dancing that go viral among teenagers, U.S. officials have expressed concerns that user information could be passed to China’s communist government. TikTok, which has as many as 100 million U.S. users, has said it would not comply with any request to share such data with Chinese authorities.

Sale negotiations were

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  • ByteDance, the Chinese company that owns the short-video app TikTok, is planning to sell the app without the algorithm that drives it, the South China Morning Post reported.
  • The TikTok algorithm powers the app’s “For You” page, which allows users to discover new content.
  • Last month, the Chinese government implemented new restrictions that would prohibit ByteDance from selling its algorithm without first obtaining approval from Chinese officials. 
  • The company has until Tuesday, September 15, to sell TikTok under one of President Donald Trump’s August executive order’s targeting the company.
  • Visit Business Insider’s homepage for more stories.

ByteDance, the Chinese parent company of TikTok, is now planning to sell the popular video-based app without the algorithm that powers it, the South China Morning Post reported on Sunday. 

“The company [ByteDance] will not hand out source code to any US buyer, but the technology team of TikTok in the US can develop

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  • ByteDance, TikTok’s parent company, is giving out bonuses this month to all of its more than 60,000 employees around the globe.
  • In a memo first obtained by Bloomberg, ByteDance said the bonuses are intended to thank everyone for their work amid the company’s challenging last few months.
  • The company has faced upheavel this summer as it faces off against the US government’s threats to ban TikTok over its ties to China. Now, ByteDance is close to a deal to sell off TikTok’s US assets to avoid such a ban.
  • Visit Business Insider’s homepage for more stories.

TikTok owner ByteDance is reportedly handing out cash bonuses to its 60,000-plus employees worldwide as the company faces the threats of countrywide bans and the sale of its growing US business.

ByteDance told staff that eligible employees will be getting a bonus, equivalent to half of one month’s salary, Bloomberg first reported. In an

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