Oracle Corporation has expressed interests in buying TikTok’s operations and has already held preliminary talks with TikTok’s Chinese owner, ByteDance. The company is considering buying the app’s operations in the United States, Canada, Australia and New Zealand.
Oracle was working with some U.S. investors that already have a stake in ByteDance, including General Atlantic and Sequoia Capital.
U.S. President Donald Trump last week ordered ByteDance to divest the U.S. operations of the video app within 90 days, ramping up pressure on the company over concerns about the safety of the personal data it handles.
Reuters says that Microsoft will be looking to take over TikTok’s video capabilities to capitalize on the lucrative video on demand for the broad audience. This is because video on demand has grown during the lockdown period as consumers are spending more time on online entertainment.
Oracle Corporation is an American multinational computer technology corporation, with its headquarters in Redwood Shores, California. It sells database software and technology, cloud engineered systems, and enterprise software products—particularly its brands of database management systems.
In 2019, the company was the second-largest software company by revenue and market capitalization.
See Also:
