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Wednesday September 16, 2020

TikTok may move its headquarters to the United States to avoid the ban

The deal accomplished by Tik Tok has many hidden details, as it did not fully respond to American requests to sell its operations, but at the same time it did not remain the same, and among the things that were agreed upon was the transfer of the company’s headquarters from China to the United States.

The agreement was announced yesterday between ByteDance and Oracle who will become its technology partner and provider. Today, the Financial Times revealed that the agreement also provides for TikTok’s headquarters – meaning all of its international operations – to be moved to the United States.

Under the new agreement, TikTok will not hand over its algorithms to anyone, but Oracle will work to process and protect US user data and store it within the United States.

TikTok had received a grace period until September 15 to sell its operations to an American company under pain of an embargo and to prevent American entities from dealing with it. But the new agreement is now at Trump’s table for approval, and it is not an acquisition agreement, but an understanding that guarantees the interests of both parties without Chinese compliance.

China recently adopted a set of new laws to control the export of artificial intelligence software in order to protect the content suggestion algorithms used by TikTok, which is one of the most important competitive advantages in the application.

It is noteworthy that TikTok has about 100 million users in America alone, and ByteDance promises that it will contribute about 200 thousand jobs in the United States, and of course when moving the headquarters to it, it will fulfill this promise.

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Source:

Financial Times

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