The logo of TikTok is seen on the side of the company's new office space in Los Angeles. AFP
The logo of TikTok is seen on the side of the company's new office space in Los Angeles. AFP
The logo of TikTok is seen on the side of the company's new office space in Los Angeles. AFP
The logo of TikTok is seen on the side of the company's new office space in Los Angeles. AFP

Quicktake: What is TikTok and why is it being pressured to sell its US operations


Alkesh Sharma
  • English
  • Arabic

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.

Our family matters legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

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TCL INFO

Teams:
Punjabi Legends 
Owners: Inzamam-ul-Haq and Intizar-ul-Haq; Key player: Misbah-ul-Haq
Pakhtoons Owners: Habib Khan and Tajuddin Khan; Key player: Shahid Afridi
Maratha Arabians Owners: Sohail Khan, Ali Tumbi, Parvez Khan; Key player: Virender Sehwag
Bangla Tigers Owners: Shirajuddin Alam, Yasin Choudhary, Neelesh Bhatnager, Anis and Rizwan Sajan; Key player: TBC
Colombo Lions Owners: Sri Lanka Cricket; Key player: TBC
Kerala Kings Owners: Hussain Adam Ali and Shafi Ul Mulk; Key player: Eoin Morgan

Venue Sharjah Cricket Stadium
Format 10 overs per side, matches last for 90 minutes
When December 14-17

THE BIO

Born: Mukalla, Yemen, 1979

Education: UAE University, Al Ain

Family: Married with two daughters: Asayel, 7, and Sara, 6

Favourite piece of music: Horse Dance by Naseer Shamma

Favourite book: Science and geology

Favourite place to travel to: Washington DC

Best advice you’ve ever been given: If you have a dream, you have to believe it, then you will see it.

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World Cup final

Who: France v Croatia
When: Sunday, July 15, 7pm (UAE)
TV: Game will be shown live on BeIN Sports for viewers in the Mena region

It's up to you to go green

Nils El Accad, chief executive and owner of Organic Foods and Café, says going green is about “lifestyle and attitude” rather than a “money change”; people need to plan ahead to fill water bottles in advance and take their own bags to the supermarket, he says.

“People always want someone else to do the work; it doesn’t work like that,” he adds. “The first step: you have to consciously make that decision and change.”

When he gets a takeaway, says Mr El Accad, he takes his own glass jars instead of accepting disposable aluminium containers, paper napkins and plastic tubs, cutlery and bags from restaurants.

He also plants his own crops and herbs at home and at the Sheikh Zayed store, from basil and rosemary to beans, squashes and papayas. “If you’re going to water anything, better it be tomatoes and cucumbers, something edible, than grass,” he says.

“All this throwaway plastic - cups, bottles, forks - has to go first,” says Mr El Accad, who has banned all disposable straws, whether plastic or even paper, from the café chain.

One of the latest changes he has implemented at his stores is to offer refills of liquid laundry detergent, to save plastic. The two brands Organic Foods stocks, Organic Larder and Sonnett, are both “triple-certified - you could eat the product”.  

The Organic Larder detergent will soon be delivered in 200-litre metal oil drums before being decanted into 20-litre containers in-store.

Customers can refill their bottles at least 30 times before they start to degrade, he says. Organic Larder costs Dh35.75 for one litre and Dh62 for 2.75 litres and refills will cost 15 to 20 per cent less, Mr El Accad says.

But while there are savings to be had, going green tends to come with upfront costs and extra work and planning. Are we ready to refill bottles rather than throw them away? “You have to change,” says Mr El Accad. “I can only make it available.”

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The biog

Favourite hobby: I love to sing but I don’t get to sing as much nowadays sadly.

Favourite book: Anything by Sidney Sheldon.

Favourite movie: The Exorcist 2. It is a big thing in our family to sit around together and watch horror movies, I love watching them.

Favourite holiday destination: The favourite place I have been to is Florence, it is a beautiful city. My dream though has always been to visit Cyprus, I really want to go there.

Director: Paul Weitz
Stars: Kevin Hart
3/5 stars

SCORES IN BRIEF

Lahore Qalandars 186 for 4 in 19.4 overs
(Sohail 100,Phil Salt 37 not out, Bilal Irshad 30, Josh Poysden 2-26)
bt Yorkshire Vikings 184 for 5 in 20 overs
(Jonathan Tattersall 36, Harry Brook 37, Gary Ballance 33, Adam Lyth 32, Shaheen Afridi 2-36).

Syria squad

Goalkeepers: Ibrahim Alma, Mahmoud Al Youssef, Ahmad Madania.
Defenders: Ahmad Al Salih, Moayad Ajan, Jehad Al Baour, Omar Midani, Amro Jenyat, Hussein Jwayed, Nadim Sabagh, Abdul Malek Anezan.
Midfielders: Mahmoud Al Mawas, Mohammed Osman, Osama Omari, Tamer Haj Mohamad, Ahmad Ashkar, Youssef Kalfa, Zaher Midani, Khaled Al Mobayed, Fahd Youssef.
Forwards: Omar Khribin, Omar Al Somah, Mardik Mardikian.

When is VAR used?

Goals

Penalty decisions

Direct red-card incidents

Mistaken identity

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THE BIO

Favourite car: Koenigsegg Agera RS or Renault Trezor concept car.

Favourite book: I Am Pilgrim by Terry Hayes or Red Notice by Bill Browder.

Biggest inspiration: My husband Nik. He really got me through a lot with his positivity.

Favourite holiday destination: Being at home in Australia, as I travel all over the world for work. It’s great to just hang out with my husband and family.

 

 

Ibrahim's play list

Completed an electrical diploma at the Adnoc Technical Institute

Works as a public relations officer with Adnoc

Apart from the piano, he plays the accordion, oud and guitar

His favourite composer is Johann Sebastian Bach

Also enjoys listening to Mozart

Likes all genres of music including Arabic music and jazz

Enjoys rock groups Scorpions and Metallica 

Other musicians he likes are Syrian-American pianist Malek Jandali and Lebanese oud player Rabih Abou Khalil

Timeline

2012-2015

The company offers payments/bribes to win key contracts in the Middle East

May 2017

The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts

September 2021

Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act

October 2021

Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence 

December 2024

Petrofac enters into comprehensive restructuring to strengthen the financial position of the group

May 2025

The High Court of England and Wales approves the company’s restructuring plan

July 2025

The Court of Appeal issues a judgment challenging parts of the restructuring plan

August 2025

Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision

October 2025

Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange

November 2025

180 Petrofac employees laid off in the UAE

Profile

Co-founders of the company: Vilhelm Hedberg and Ravi Bhusari

Launch year: In 2016 ekar launched and signed an agreement with Etihad Airways in Abu Dhabi. In January 2017 ekar launched in Dubai in a partnership with the RTA.

Number of employees: Over 50

Financing stage: Series B currently being finalised

Investors: Series A - Audacia Capital 

Sector of operation: Transport