TikTok has been one of the hot topics in the US for quite some time. The short video platform, which went dark briefly in the country on January 19, bought itself a 75-day extension with the help of the US President Donald Trump. There have been reports about China’s response to Trump’s proposal to sell 50% of TikTok to the US. Now, it seems Oracle could take over TikTok’s global operations, with Microsoft being one of the investors.
Oracle is in talks to take over TikTok’s operations, while Microsoft is willing to invest
Yesterday, NPR exclusively reported that the White House is negotiating a deal with TikTok’s parent company ByteDance. The ongoing negotiation reportedly involves ByteDance retaining a minority stake in the company, with Oracle overseeing the app’s algorithm, data collection, and software updates.
An anonymous source in direct connection with the ongoing talks said, “The goal is for Oracle to effectively monitor and provide oversight with what is going on with TikTok. ByteDance wouldn’t completely go away, but it would minimize Chinese ownership.” Oracle is reportedly also willing to shell out “the tens of billions” to take over TikTok.
It seems Oracle isn’t the only name that is engaged in the talks; Microsoft is also one of them. The tech giant is reportedly willing to invest in the company. Apart from that, details about its direct involvement in TikTok’s operations haven’t been disclosed in the report.
Trump surprisingly denies discussions with Oracle’s Larry Ellison, though
Oracle’s involvement in the ongoing deal is surprising given that Trump denied discussions with Larry Ellison about buying the app. Today, Reuters similarly reported on this matter, but with a few more details.
When asked if Trump was working on a deal with Oracle and other investors, he reportedly said, “No, not with Oracle. Numerous people are talking to me, very substantial people, about buying it and I will make that decision probably over the next 30 days. Congress has given 90 days. If we can save TikTok, I think it would be a good thing.”
Previously, Trump hinted that he was open to Elon Musk and others buying TikTok. On the other hand, ByteDance board member still thinks that it’s possible to resolve the ban without selling off the company. Well, the drama around TikTok doesn’t seem to stop. It’ll be interesting to see who will take the driver’s seat to run TikTok.
