US President Donald Trump has approved TikTok's deal with Oracle and Walmart, allowing the short content video platform to operate in the country. The President told reporters, "I have given the deal my blessing -- if they get it done that's great, if they don't that's okay too." He added that he has approved the deal "in concept."
Oracle has informed that it will provide secure cloud services to TikTok and will hold a 12.5% stake in the company. Retail giant Walmart announced that it has agreed to a 7.5% stake. Its CEO Doug McMillon would serve on the board, comprising four other members.