Tech giant Oracle is the latest in the race to buy TikTok operations in the US after the ultimatum given to ByteDance by the Trump administration. Microsoft and Twitter are some of the other companies that we know that have announced their intentions to vie for the company which must be concluded in 90 days according to the new executive order by President Donald Trump
According to a Financial Times report, Oracle is working with some U.S. investors that already have a stake in ByteDance, including General Atlantic and Sequoia Capital. Oracle is willing to purchase the app’s operations in the US, Canada, Australia and New Zealand
Oracle is a software company known for the sale of database software and technology, cloud engineered systems, and enterprise software products so one wonders what why it would be interested in TikTok, a video-sharing social networking service. What is its intention? There is no doubt, however, that it has the money to buy TikTok’s operations. As at 2019, the Larry Ellison company was valued at about US$197 billion.
It would be considered a serious contender along with Microsoft if this report is indeed true.
ByteDance came under close scrutiny after its success globally. With TikTok launched in 2017, ByteDance acquired U.S. video app Flipgram and lip-syncing app Musical.ly and integrated it into TikTok in 2018. It overtook Uber as the most valuable startup in 2018. The Trump administration believes that TikTok is a security risk to Americans along with other Chinese companies doing business in the US. There was even a time that Trump suggested a TikTok ban could be deployed to punish China for the outbreak of the coronavirus.
