The Chinese company ByteDance, the owner of TikTok, has put an appraisal of the application of $ 60 billion, after agreeing to buy Oracle and Walmart, stakes in the app. / p>

According to Arabiya Net, Oracle and Walmart each have the right to purchase 12.5% ​​and 7.5%, respectively, of the shares of the new global TikTok entity, according to an agreement. Which won the approval of US President Donald Trump.

It is expected that the two American companies will both pay $ 12 billion for the 20% stake in the company if they accept this price.

Sources said that the final price of the deal has not yet been determined, as the partners are currently working on the ownership structure and standards for data security, according to a source quoted by Bloomberg.

Beijing has not yet agreed to the deal, but said it would be with any agreement by which ByteDance could keep its valuable stock and technologies used in the application.

The evaluation of TikTok has been a path of controversy during the last period, as the evaluation of the company's operations in the United States ranged between 20 and 50 billion dollars, or more. As for similar companies, Snap's market value was about $ 35 billion.

And ByteDance said in a statement, on Saturday, that it had prepared an agreement with Oracle to be its technical provider in the United States and Walmart to be the trading partner, the day before it took effect. Federal ban on the Chinese company that owns the app.

A company spokesman said, "We are pleased that the offer by TikTok, Oracle and Walmart will solve the security concerns of the US administration and end questions about the future of TikTok in the United States." / p>

The spokesperson added that Oracle will become the trusted technical provider responsible for hosting data for all US users and securing associated computing systems to ensure that all US national security requirements are fully met. Adding, we are currently also working with Walmart on a business partnership.

The United States has banned the popular Chinese short video app download because it is considered a threat to national security, which led to an escalating dispute with China over technology.

About 100 million Americans use the TikTok app. US officials have expressed concern about user data and the possibility of ...