Contents
Who Owns TikTok in America?
When you think of a fusion of tech giants, you don’t typically think of Walmart, ByteDance, or Oracle. But they are all subsidiaries of Chinese company Douyin, and by all reports, they all have an interest in the social media platform. Who owns TikTok in America? Let’s explore the question. What are their interests? Who are their shareholders?
ByteDance
The recent announcement that Chinese company ByteDance owns TikTok in the United States has caused some controversy in the US. Several Senators have expressed concerns about the use of this popular social media app in their respective states. To see also : How to Edit TikTok Caption. While the Chinese government has expressed interest in regulating TikTok, the company’s relationship with the Chinese government leaves little room for maneuver. Senators have asked the Treasury Department to look into this matter.
The government is concerned that the Chinese government is spying on Americans. President Donald Trump threatened to ban the app from the US in August 2020, citing security concerns. TikTok’s parent company, ByteDance, has agreed to sell a minority stake in the company to two American companies. Oracle will be taking over data storage in the US. However, this deal is not entirely satisfactory.
Oracle
The Chinese company behind the video-sharing app TikTok has announced that it is moving its American users’ personal information from its own servers to those operated by Silicon Valley’s Oracle. The company still has backups of its American users’ data, but hopes to delete it once it reaches Oracle’s servers. To see also : How Much Do You Get Paid on TikTok?. Though it hasn’t yet revealed how many American users it has, the Chinese-owned company owns millions of accounts.
Its recent acquisition of TikTok by the Chinese company ByteDance has sparked concerns about how user data is handled by the Chinese government. The company is working to improve its data management practices to protect US users’ privacy. Oracle will also audit TikTok’s data management processes. In addition, it will create a team of U.S.-based executives to manage the company’s US user data. Previously, TikTok employees had to rely on their Chinese counterparts to get access to the data.
Walmart
It’s been a while since the news broke that Walmart owns TikTok in the United States. Earlier this year, Walmart teamed up with Microsoft and Oracle to buy TikTok. In the past, Walmart expressed interest in buying part of the U. See the article : How to See Who Viewed Your TikTok Profile 2022.S. business, and it’s expected to buy a 7.5% stake. But today, Walmart is moving forward in thinking about the next decade.
It’s unclear what exactly Walmart will do with TikTok, but Walmart is doubling down on this super-trendy short video social-media platform. It was close last summer, but then ran into controversy with the former president and national security. It’s unclear how the two companies will proceed with the deal. In the meantime, we can expect to see TikTok-branded products in Walmart stores.
ByteDance is a subsidiary of Douyin
TikTok is owned by the China-based company ByteDance, whose Chinese subsidiary ByteDance Limited was established under its parent company in Beijing. The firm later changed its name to Douyin Group Limited, the Chinese counterpart to TikTok. Other ByteDance subsidiaries have also undergone similar rebrandings.
The Chinese company has been renaming its subsidiaries to avoid confusion and improve its global profile. It recently renamed two of its subsidiaries to reflect the new name, including Douyin Information Service Limited and Beijing ByteDance Technology Limited. The name change reflects a shift in the direction of the company and its focus from its American operations.
Oracle is a laggard in cloud storage wars
Despite the success of its Cloud Platform, Oracle has fallen behind other cloud giants in a number of areas. Its cloud catalog is stale and lacking compared to other leading providers. Its vertical scale, while impressive, is also its Achilles heel. It is not suited for horizontal scaling. That’s a problem for the company, which is attempting to compete with Amazon, Microsoft, and Google in the cloud storage wars.
Oracle’s cloud revenue has been growing each quarter, but it still lacks a significant market share. The big three cloud vendors are launching new services and acquiring customers. Meanwhile, the public cloud is outpacing legacy on-premises applications. And while customer switching costs are shrinking for companies running Oracle business applications, cloud acquisition costs are increasing. Despite this, Oracle is a laggard in cloud storage wars in America.
Walmart is a laggard in cloud storage wars
As the world’s largest brick-and-mortar retailer, Walmart has little reason to lose ground in the cloud storage wars. Amazon, on the other hand, has a 43.5 percent share of the US e-commerce market. Still, Walmart’s cloud efforts are significant in a time when retail is changing rapidly. In a world where shoppers are turning to online shopping more, data-based decision making is essential for retailers. During the third quarter, online sales at Walmart grew 50 percent year-over-year, a significant number of which are digitally-based.
While most retailers rent their cloud capacity, Walmart has built an internal cloud network that includes thousands of servers to crunch huge swaths of consumer data. The company wants to copy Amazon’s cloud-powered big data approach, but the retail giant is not a cloud service provider. Instead, it wants to be a cloud giant itself. The Walmart cloud is one of the largest hybrid clouds in existence, and it draws on both third-party and in-house servers.
