Locator: 49798TIKTOK.
This is huge. Link here to CNBC.
According to TikTok, the new venture will be governed by a seven-member board of directors, the majority of whom are American.
In addition to Chew, the board is comprised of TPG Global’s Timothy Dattels, Susquehanna International Group’s Mark Dooley, Silver Lake co-CEO Egon Durban, DXC Technology CEO Raul Fernandez, Oracle ’s Kenneth Glueck, and MGX’s David Scott.
ByteDance, the Chinese parent of TikTok, will retain 19.9% of the new venture. Silver Lake, Oracle and MGX are the new managing investors. Other backers include Michael Dell’s investment firm, Vastmere Strategic Investments, Alpha Wave Partners, Revolution, and General Atlantic affiliate Via Nova.
ByteDance was subject to a national security law, originally signed by former President Joe Biden, that required the company to sell its U.S. operations or be effectively banned in the country. That law was never enacted due to several executive orders signed by President Donald Trump last year.
The WSJ, two hours ago, link here:
All of this needs to be fact-checked. I could be very wrong on this but picking up details on the fly.
TikTok: details are sketchy but apparently "the deal" has been completed. TikTok lives.
Maybe President Trump will have time to address this deal some time. While folks were distracted with Intel, those adding to their positions in Oracle may be opening an extra bottle of champagne tonight. See my "disclaimer briefly." My hunch: this app / site is going to be monetized like never before.
Also, it's very likely that Larry Ellison will announce the deal from the Oval Office.
I've never seen an administration as impactful as this one since Richard M Nixon.
Presidents Obama, Bush II, and Biden gave us speeches. Trump is giving us action, successes. And now, like Obama, he even has his own Nobel Peace Prize. LOL.
**********************************
Disclaimer
Briefly
Briefly:
I am inappropriately exuberant about the Bakken and I am often well out front of my headlights. I am often appropriately accused of hyperbole when it comes to the Bakken. I am inappropriately exuberant about the US economy and the US market. I am also inappropriately exuberant about all things Apple. See disclaimer. This is not an investment site. Disclaimer: this is not an investment site. Do not make any investment, financial, job, career, travel, or relationship decisions based on what you read here or think you may have read here. All my posts are done quickly: there will be content and typographical errors. If something appears wrong, it probably is. Feel free to fact check everything. If anything on any of my posts is important to you, go to the source. If/when I find typographical / content errors, I will correct them. Reminder: I am inappropriately exuberant about the Bakken, US economy, and the US market. I am also inappropriately exuberant about all things Apple. And now, Nvidia, also. I am also inappropriately exuberant about all things Nvidia. Nvidia is a metonym for AI and/or the sixth industrial revolution. I've now added Broadcom to the disclaimer. I am also inappropriately exuberant about all things Broadcom. Longer version here.
