The United States operations of the popular app “TikTok” reached a deal with an American corporation regarding its presence in the stock market. This is new hope for the application, announcing the complete app would be officially moving operations to the United States. It will now be giving two American companies, Oracle and Walmart, a stake in TikTok and turning it into a publicly-traded company. This news comes shortly after President Donald Trump was to ban the app by executive order, due Nov. 12 along with WeChat, another Chinese operated app, citing national security risks. This deal will create plenty of business opportunities as the application enters the stock market.

TikTok is one of the largest social media platforms on the planet with over two billion downloads across the globe according to the Consumer News and Business Channel. In recent months, TikTok’s national security risks became well-known and privacy became an issue on the app. The Communist Party of China requires all information stored to be supplied to the government, generating some concerns that the app could potentially have been an indirect form of espionage.

President Trump signed an executive order on Aug. 6 threatening to ban TikTok and effectively remove WeChat. An opportunity was given to the company for 45 days to work out a deal in which TikTok is in the hands of United States businesses and not the Chinese government. This deal, while not completely through with, is the closest to complete in negotiations with ByteDance, the current owner of TikTok, in acquiring the software.

“If this deal passes, it is not only great for the United States but also for the people like me who use the app lot and would not like to see it get banned. Hopefully, these issues of national security get resolved so Americans can continue enjoying TikTok,” sophomore Beatriz Cruz said.

The New York Stock Exchange functions as an auction market for shares or parts of companies. For TikTok to go public, they must give an Initial Public Offering or the start price of a share based on the profitability and number of shares being sold. After the IPO, the share price will fluctuate accordingly and traders can buy and sell this stock. What this does is help raise millions of dollars quickly for a company, in this case, possibly for TikTok.

The U.S. TikTok, now TikTok Global as its rebranded name, is therefore saved in a deal with Walmart and Oracle owning at least 20 percent of the company and even creating an Initial Public Offering in the New York Stock Exchange within 12 months. The move also brings more than 25 thousand jobs that would include high to low skill level jobs like managers, moderators and marketing opportunities. It also brings more than five billion in taxes to the United States which is an estimation based on the corporate tax income for its business development over the next few years. It will also be putting Americans on the board of the company like Walmart Chief Executive Officer Doug McMillion. Oracle chief executive Safra Catz said, “we are one hundred percent confident in our ability to deliver a highly secure environment to TikTok and ensure data privacy to TikTok’s American users, and users throughout the world.”

As of now, TikTok Global’s future in the United States seems bright and hopeful for not only those who use the app but the US economy with added jobs and billions in taxes. With an IPO coming soon, a deal may prove very profitable for individual traders as well, meaning Americans have much to gain from an agreement that may lie in the near future.