We all know that Microsoft was in talks to acquire TikTok. According to the latest report by Financial Times, Oracle Corp is also in discussions with ByteDance, the Chinese owner of TikTok. The tech giant is considering acquiring the operations of the app in the United States, Canada, Australia, and New Zealand. The talks are still in the initial phases. Oracle is already into some businesses with a few US investors who have invested some shares in ByteDance. These include General Atlantic and Sequoia Capital, as reported in the news.
ByteDance and TikTok did not comment on anything with regards to the FT report. And Oracle refused to give out anything regarding the same.
Earlier this month, there were reports that Twitter Inc was in talks with ByteDance. It did look like Twitter was interested in taking over the US operations of TikTok. However, many speculations were going around that Microsoft would finalize a deal with ByteDance to acquire TikTok. It did seem that Microsoft was considered a hot favorite to buy TikTok.
Financial Times also reported on Monday that Microsoft is seriously interested in taking over TikTok’s international operations in many regions across the world, more than what it had stated earlier. In particular, Microsoft wishes to take over TikTok’s operations in Europe and India. TikTok was banned in India in June due to the border face-off between the nations (India and China).
However, according to the news report, it seems like ByteDance is interested in the sale of TikTok operations pertaining only to the regions of the United States, Canada, Australia, and New Zealand. ByteDance has not stated anything about the sale of the app’s operations in any other region of the world apart from the ones mentioned above.
TikTok has been in the news for some time now. After the Indian government banned the app, the US lawmakers too expressed concerns regarding the app. There were concerns raised regarding the security features of the app. The US government officials believe that the user data stored on the app could reach the hands of the Chinese government officials, who could misuse it. Highlighting this issue, President Donald Trump ordered an immediate ban on the usage of the TikTok app in America, stating that they cannot be risking the data of thousands of Americans.
Owing to these concerns, last week, President Trump had ordered ByteDance to stop all the US operations of the app by giving the Chinese organization a deadline of 90 days. This latest order that Trump signed on Friday says that “There is credible evidence that leads me to believe that ByteDance … might take action that threatens to impair the national security of the United States.”
In response to this order, ByteDance stated that “As we’ve said previously, TikTok is loved by 100 million Americans because it is a home for entertainment, self-expression, and connection. We’re committed to bringing joy to families and meaningful careers to those who create on our platform for many years.” The app is very famous amongst American teens.
Earlier to this order, Trump had signed another executive order stating that the US should stop all operations with TikTok within 45 days. So far, nothing has come up from General Atlantic and Sequoia Capital regarding any of this.