The US President Donald Trump is reportedly close to a decision to approve Oracle's possible alliance with the short-form video streaming app TikTok. On Wednesday, the Financial Times said that the Chinese video app will place its global business into a new company that has its headquarters in the US and Oracle will be a minority shareholder, although this has yet to be officially confirmed
Before Mr Trump reveals his decision, The National explains what the Chinese app that became a global sensation is and why it is being pressured to sell its US operations.
What is TikTok?
Launched in China in September 2016, TikTok is owned by Beijing-based technology firm ByteDance. It was rolled out in the US in 2018 after ByteDance’s $1 billion (Dh3.67bn) purchase of lip-synching app Musical.ly. It allows users to create and share 15-second videos while providing musical soundtracks.
Why is it popular?
The platform, which is known as Douyin in China, is popular with young audiences around the world as it allows them to create short-form videos that tend to have an extensive reach. TikTok is available in more than 140 countries and boasts of over one billion users worldwide. In the first quarter of this year, it amassed more than 315 million installs across Apple’s App Store and Google Play, according to app intelligence agency Sensor Tower. This was the highest amount of downloads an app has ever registered in a quarter.
Where are most of its users?
India, which banned TikTok in June, has been its biggest market in terms of user growth. India generated 611 million downloads till March 31 - 30.3 per cent of the total, data compiled by Sensor Tower showed.
TikTok’s home market China only ranked second, accumulating 196.6 million or 9.7 per cent of all downloads. The US accounted for nearly 165 million installations, or 8.2 per cent of the total.
Why is it selling its US operations?
TikTok started to actively look for a buyer for its US operations after Mr Trump issued an executive order last month banning businesses and US residents from using the app. In another executive order passed on August 14, the Trump administration directed ByteDance to sell its US assets within 90 days. Amidst all these developments, the company’s chief executive Kevin Mayer resigned on August 26.
Why could it be a prized possession?
TiKTok's market value could be about $50bn – 50 times its projected 2020 revenue of about $1bn, according to Reuters. The company said it had hired about 1,000 people in the US this year and plans to hire another 10,000.
In comparison, competitor Snap, which owns photo and video sharing platform Snapchat, is currently valued at $36bn or about 20 times its annualised revenue.
Who is leading the race?
California-based enterprise software giant Oracle is reportedly nearing a deal with TikTok. According to the latest report by The Financial Times, Oracle will now be a stakeholder in TikTok's global business and not just in the US. However, details of the agreement are not public yet.
"Oracle confirms that it is part of the proposal submitted by ByteDance to the Treasury Department over the weekend in which Oracle will serve as the trusted technology provider … Oracle has a 40-year track record providing secure, highly performant technology solutions," Oracle said in a statement to The National.
The company’s billionaire co-founder, Larry Ellison, is one of the leading Silicon Valley entrepreneurs who openly supports Mr Trump. In February, he held a fundraiser for Mr Trump at his property in Coachella Valley, California.
What can victims do?
Always use only regulated platforms
Stop all transactions and communication on suspicion
Save all evidence (screenshots, chat logs, transaction IDs)
Report to local authorities
Warn others to prevent further harm
Courtesy: Crystal Intelligence
The details
Heard It in a Past Life
Maggie Rogers
(Capital Records)
3/5
The low down on MPS
What is myofascial pain syndrome?
Myofascial pain syndrome refers to pain and inflammation in the body’s soft tissue. MPS is a chronic condition that affects the fascia (connective tissue that covers the muscles, which develops knots, also known as trigger points).
What are trigger points?
Trigger points are irritable knots in the soft tissue that covers muscle tissue. Through injury or overuse, muscle fibres contract as a reactive and protective measure, creating tension in the form of hard and, palpable nodules. Overuse and sustained posture are the main culprits in developing trigger points.
What is myofascial or trigger-point release?
Releasing these nodules requires a hands-on technique that involves applying gentle sustained pressure to release muscular shortness and tightness. This eliminates restrictions in connective tissue in orderto restore motion and alleviate pain. Therapy balls have proven effective at causing enough commotion in the tissue, prompting the release of these hard knots.
Election pledges on migration
CDU: "Now is the time to control the German borders and enforce strict border rejections"
SPD: "Border closures and blanket rejections at internal borders contradict the spirit of a common area of freedom"
Day 1 results:
Open Men (bonus points in brackets)
New Zealand 125 (1) beat UAE 111 (3)
India 111 (4) beat Singapore 75 (0)
South Africa 66 (2) beat Sri Lanka 57 (2)
Australia 126 (4) beat Malaysia -16 (0)
Open Women
New Zealand 64 (2) beat South Africa 57 (2)
England 69 (3) beat UAE 63 (1)
Australia 124 (4) beat UAE 23 (0)
New Zealand 74 (2) beat England 55 (2)
Biography
Favourite Meal: Chicken Caesar salad
Hobbies: Travelling, going to the gym
Inspiration: Father, who was a captain in the UAE army
Favourite read: Rich Dad Poor Dad by Robert Kiyosaki and Sharon Lechter
Favourite film: The Founder, about the establishment of McDonald's
How much do leading UAE’s UK curriculum schools charge for Year 6?
- Nord Anglia International School (Dubai) – Dh85,032
- Kings School Al Barsha (Dubai) – Dh71,905
- Brighton College Abu Dhabi - Dh68,560
- Jumeirah English Speaking School (Dubai) – Dh59,728
- Gems Wellington International School – Dubai Branch – Dh58,488
- The British School Al Khubairat (Abu Dhabi) - Dh54,170
- Dubai English Speaking School – Dh51,269
*Annual tuition fees covering the 2024/2025 academic year
More from Rashmee Roshan Lall
MATCH INFO
Euro 2020 qualifier
Ukraine 2 (Yaremchuk 06', Yarmolenko 27')
Portugal 1 (Ronaldo 72' pen)
Other must-tries
Tomato and walnut salad
A lesson in simple, seasonal eating. Wedges of tomato, chunks of cucumber, thinly sliced red onion, coriander or parsley leaves, and perhaps some fresh dill are drizzled with a crushed walnut and garlic dressing. Do consider yourself warned: if you eat this salad in Georgia during the summer months, the tomatoes will be so ripe and flavourful that every tomato you eat from that day forth will taste lacklustre in comparison.
Badrijani nigvzit
A delicious vegetarian snack or starter. It consists of thinly sliced, fried then cooled aubergine smothered with a thick and creamy walnut sauce and folded or rolled. Take note, even though it seems like you should be able to pick these morsels up with your hands, they’re not as durable as they look. A knife and fork is the way to go.
Pkhali
This healthy little dish (a nice antidote to the khachapuri) is usually made with steamed then chopped cabbage, spinach, beetroot or green beans, combined with walnuts, garlic and herbs to make a vegetable pâté or paste. The mix is then often formed into rounds, chilled in the fridge and topped with pomegranate seeds before being served.
