Oracle and Walmart have rights to buy 12.5% and 7.5% respectively of a newly established TikTok Global.
Trump approved in principle a deal in which major Oracle and Walmart would partner with TikTok.
US President, Donald Trump is to decide the fate of TikTok in the country in the next 24-36 hours.
This month, TikTok surpassed 2 billion global downloads and reported nearly 700 million monthly active users in July.
The U.S. government is worried that such information on users could be passed on to China’s authorities.
TikTok has come under fire from US lawmakers over national security concerns surrounding data collection.
President Trump issued directives banning any U.S. transactions with Chinese tech companies.
Trump had raised security concerns about TikTok’s entry into the United States.
The British capital is among the several locations that the company is considering moving to.
ByteDance Ltd’s brainchild, TikTok, together with Douyin ranking tops globally on mobile apps with the highest revenue generated for the month of April.