Oracle Also in Negotiations to Buy TikTok’s US Operations: Report
Aug. 18, 2020Alongside Microsoft,Oracle is also reportedly eyeing TikTok’s US businessas the beleaguered Chinese owner of the popular video-sharing app is looking to sell off its US operations following an ultimatum by the US government.
According toFT, Larry Ellison’s company has already held preliminary talks with TikTok’s parent company, ByteDance, and is working with venture capital firms, General Atlantic and Sequoia, to generate the funds to acquire the app’s operations in the US, Canada, Australia and New Zealand.
The news comes just a couple of weeks afterMicrosoft revealed its plansto acquire TikTok’s US operations. The Redmond giant has also reportedly shown interest in buying the app’s India operations, although, there’s no confirmation on that front just yet. Meanwhile, recent reports suggest thatReliance Industries is also consideringbuying TikTok’s India operations, but neither party has confirmed it yet.
In case you don’t know it already, TikTok is facing headwinds in its two largest markets – India and the US. While the former hasalready banned the appas part of alarger crackdown on Chinese apps and services, the US president hasthreatened similar actionif ByteDance doesn’t sell-off the US operations of the app to a US-based owner by September 15.
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