TikTok had its claim to infamy when President Trump threatened to ban it citing security concerns over the Chinese app. ByteDance, TikTok's parent company, has deals in the works with Oracle
The deal with ByteDance hangs in the balance as ByteDance wants to maintain majority stake in the app, slowing the deal process, and another deal offer on the table with Shopify
The Canadian e-commerce company said it will be partnering with TikTok to help over a million merchants with their advertising on the app as its user base only grows. Shopify differs from Walmart in advertising, since it caters to mostly small and medium-sized businesses. With the Walmart deal in limbo, this may be better for Shopify and its clients. Shopify released a statement covering its excitement over the deal and being the first partner to bring TikTok into the world of e-commerce, especially as the holidays approach.
While neither company provided details, TikTok did release their plans to hire about 3,000 new employees throughout the next few years. They're looking for engineers mostly in Singapore, Europe and Canada. This move proves the company isn't shying away from its plans to expand, even as ownership of the company and partnership deals hang in limbo. The U.S. will still remain as one of the engineering hubs for the Chinese-owned app. At the moment, there are already over 1,000 engineers currently working outside of China, and half of them are based in California.
According to Reuters, ByteDance has reported they plan to invest billions of dollars into recruiting Singapore-based employees, which is their chosen base for their Southeast Asia headquarters. With a judge deciding the fate of TikTok in the states on Nov. 4 and the deal with Shopify approaching faster than the Walmart/Oracle deal, the app's U.S. userbase is still unsure.