Along with Microsoft, Oracle is also considering the TikTok business in the United States, as the troubled Chinese owner of the popular video-sharing app is looking to sell its U.S. operations following an ultimatum from the U.S. government.
According to FT, Larry Ellison’s company has previously held preparatory talks with TikTok’s parent company ByteDance and is working with venture capital firms General Atlantic and Sequoia to produce the funds to obtain the app’s operations in the United States. USA, Canada, Australia, and New Zealand.
The news comes just a couple of weeks after Microsoft revealed its plans to acquire TikTok’s operations in the United States. The Redmond giant has also reportedly shown interest in buying the app’s operations in India, although there is no confirmation on this yet. Meanwhile, recent reports suggest that Reliance Industries is also considering buying TikTok’s operations in India, but neither party has confirmed this yet.
There is no further information on the subject at this time, but an offer from Oracle would present Microsoft with a competitor, which could drive up the price of the social media app. As it stands, TikTok owner ByteDance became the world’s most valuable startup in 2018, and his prized possession is believed to be worth billions.
In case you don’t already know, TikTok is facing headwinds in its two largest markets – India and the US – while the former has already banned the app as part of a broader crackdown on Chinese apps and services. , the US President has threatened similar action if ByteDance does not sell the US operations of the application to a US-based owner by September 15.