According to previous media reports, after the successful transaction of tiktok, the board of directors of the newly established tiktok global company in the United States will be composed of five members.
Speaking on Fox Business Channel morningswitch Maria, batilomo said this week she had a conversation with Oracle chairman Larry Ellison, who claimed that four of the five board members will be Americans..
However, if sun Zhengyi joins the board of directors of tiktok global now, it will be the latest turning point in the progress of tiktok transaction.
As of Tuesday, media reports still believe that the board of tiktok global includes Zhang Yiming, founder of byte hopping, the parent company of tiktok. Doug McMillan, Wal Marts chief executive, is also a member of the board of tiktok global. The rest of the board is headed by the head of the existing investment institutions of byte jump, including general Atlantic and Sequoia Capital.
Softbank has been exploring the acquisition of tiktoks assets in India over the past month. According to media reports, sun Zhengyi became very active in the activities of taking part in the acquisition of tiktok since there was no progress in the negotiation for the acquisition of tiktok in India.
Softbank holds a minority stake in byte hopping. In 2018, a consortium led by Softbank invested $3 billion in byte hopping.
Representatives of Softbank, byte skipping, tiktok and Oracle did not immediately respond to requests for comment from the media.
It is unclear whether Softbank is in talks to acquire a new stake in tiktoks US business and whether it plans to abandon its existing stake in byte hopping.
Oracle is in talks to acquire a 12.5% stake in tiktok global, while Wal Mart is seeking a 7.5% stake in tiktok global, according to media reports. Byte hopping will own 80% of tiktok global. Tiktok global governs the global tiktok business except China, and its headquarters are located in Texas, USA.
The U.S. Department of Commerce has issued a ban requiring apple and Googles U.S. app stores to stop offering tiktok downloads and updates from the end of this week. Before the ban came into effect, byte skipping on Wednesday asked a U.S. court to block the enforcement of the ban by the U.S. Department of Commerce. (Tianmen Mountain)