Tag: TikTok

TikTok Owner ByteDance Launches Education Technology Brand Dali for China | Investing News

By Yingzhi Yang and Brenda Goh

BEIJING (Reuters) – Beijing-based ByteDance announced a standalone education technology (edtech) brand Dali for the Chinese market on Thursday, becoming another major tech player looking to capitalise on the sector’s boom driven by the COVID-19 pandemic.

Dali, meaning “forceful strength” in Chinese, will host all the education business of ByteDance and already has 10,000 employees, Dali Chief Executive Chen Lin told a press conference in Beijing.

ByteDance founder and chief executive Zhang Yiming said in a statement: “We started to develop interests in the education industry very early on. The brand independence of Dali

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President Trump says $5 Billion from TikTok, Oracle, Walmart deal will go toward education

President Donald Trump has signed off on a business proposal between TikTok, Walmart and Oracle that would allow the social networking app to continue to operate in the U.S.

One of Trump’s stipulations for approving the deal was a $5 billion commitment from the companies to create an education initiative that teaches children America’s “real history,” the President said. 

Trump first mentioned the education fund on Saturday as he left the White House for a campaign rally in North Carolina. “We’re going to be setting up a very large fund for the education of American youth,” Trump told reporters as

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Doubts surround ‘education fund’ connected to TikTok deal

President Trump has given his “blessing” to Oracle’s partnership with ByteDance to operate TikTok, but his claim that the companies would finance a $5-billion “patriotic” education fund has raised questions about the deal to allow the app to operate in the U.S.

The president said he had given “preliminary” approval for the deal that Oracle and ByteDance, the Chinese owner of the short-video app, proposed to alleviate concerns about protecting U.S. national security.

But in a new twist in the more than week-long negotiations between the companies and his administration, Trump said his team was talking to them about funding

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TikTok Owner Says It Wasn’t Aware Deal Included $5 Billion ‘Education Fund’

ByteDance's Beijing headquarters. (Photo: GREG BAKER via Getty Images)
ByteDance’s Beijing headquarters. (Photo: GREG BAKER via Getty Images)

ByteDance, the China-based company that owns video-sharing app TikTok, said it was not told that $5 billion of its deal with Walmart and Oracle would go to President Donald Trump’s so-called “patriotic education” initiative. 

Trump told a campaign rally Saturday that money from TikTok’s sale would fund his proposal to educate children about “the real history of our country ― the real history, not the fake history.”

Trump also gave his blessing to the sale of TikTok’s U.S. operation to Walmart and Oracle, corporations with major Trump campaign donors in senior

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