TikTok parent ByteDance Ltd. and Oracle submitted these details in their proposal to the Trump administration with a goal of averting an outright sale of the app or a shutdown of its US operations
Trump had previously threatened to ban the app unless its US operations were sold to a US company and the US government received a share of the proceeds
The U.S. Treasury submitted a revised term sheet to ByteDance late Wednesday to address national security concerns that was agreed to by the Chinese parent of TikTok
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China will need to approve ByteDance's proposed deal with Oracle Corp for its TikTok app, the company has said on Thursday, indicating how its bid to stave off a ban in US could be further complicated
China's ByteDance has decided to place the headquarters of its popular video platform app TikTok in the US in order to escape President Donald Trump's ban, official media here reported on Wednesday
Trump issued an executive order last month that would ban TikTok in the United States as early as Sept. 20 if ByteDance does not comply with a sale
Trump has ordered ByteDance to divest TikTok amid US concerns that user data could be passed to China's Communist Party government
ByteDance's carefully designed proposal and the shifting views of Mr Trump's advisers indicate how they are more willing to compromise to mitigate an increasingly fractious situation
They feel India will still want a local partner-based strategy in which data centres are placed locally within the country
Currently in beta, the early version of the YouTube Shorts is available in India for users with Android smartphones
Microsoft loses out; Chinese media stresses American operations won't be sold to any firm
Oracle Corp confirmed on Monday that it was part of a proposal made by TikTok-parent ByteDance to the US government to become a technology partner for the Chinese firm
Microsoft announced Sunday that its bid to buy TikTok has been rejected
South China Morning Post reported that ByteDance has reportedly informed the US authorities and potential bidders of the decision
Trump has given ByteDance a deadline of mid September to finalise a deal
Microsoft Corp and Oracle Corp are among the suitors for TikTok's US assets. Operations in Canada, New Zealand and Australia are also part of the deal
ByteDance, TikTok's Chinese owner, may need more time to negotiate with suitors after new regulations from Beijing complicated the deal
ByteDance has also stepped up the purchase of servers in global trade and transport hub Singapore to back up US data as a contingency
TikTok owner ByteDance plans to invest billions of dollars and recruit hundreds of employees in Singapore after opting to base its Southeast Asia regional headquarters there