Among all the competitors that are eyeing to acquire TikTok in the US (well some of its operations) from the parent company ByteDance in China, Enterprise software giant Oracle too, has now joined the race.
As first reported by the Financial Times, Oracle has lately been discussing the deal with several current US-based TikTok investors, including General Atlantic and Sequoia Capital, all with the hope of purchasing the app's US, Canada, Australia, and New Zealand operations. However, when Oracle and TikTok were approached to comment, both did not give any comments.
Citing national security concerns, US President Donald Trump has been pretty active on making sure that TikTok partly gets sold to an American company if the app has to sustain in the region. Trump has also been trying to instill the conspiracy among the Americans of how the Chinese government can always order Byte Dance to spy on the people living in the states with TikTok and may even censor political content which they might find offensive.
Over the recent weeks, Trump has also issued two orders; one that relates to a ban on US companies that will continue to do business with TikTok and the other is focused to unwind ByteDance's 2017 acquisition of Musical.ly - the one that got popular prior to TikTok.
So far, Microsoft seems to be the clear cut winning contender for the acquisition but now with Oracle’s entrance, Byte Dance might take advantage of some leverage in the deal.
On the financial forefront, TikTok currently enjoys more than 2.3 billion downloads and its valuation stands in between $30 billion to $50 billion.
Oracle does have close ties to Trump and a proof of that is how Founder Larry Ellison is one of very few tech executives who have always backed Trump without any hesitation. He has even hosted a fundraiser for Trump at his home in Southern California in February. Furthermore, when that just doesn’t seem enough, CEO Safra Catz has also played a key role in Trump's transition team.
So, who knows we might be in for a good surprise ahead when TikTok will make the official announcement of the acquisition.
Read next: Microsoft Expresses Interest in Buying TikTok UK
As first reported by the Financial Times, Oracle has lately been discussing the deal with several current US-based TikTok investors, including General Atlantic and Sequoia Capital, all with the hope of purchasing the app's US, Canada, Australia, and New Zealand operations. However, when Oracle and TikTok were approached to comment, both did not give any comments.
Citing national security concerns, US President Donald Trump has been pretty active on making sure that TikTok partly gets sold to an American company if the app has to sustain in the region. Trump has also been trying to instill the conspiracy among the Americans of how the Chinese government can always order Byte Dance to spy on the people living in the states with TikTok and may even censor political content which they might find offensive.
Over the recent weeks, Trump has also issued two orders; one that relates to a ban on US companies that will continue to do business with TikTok and the other is focused to unwind ByteDance's 2017 acquisition of Musical.ly - the one that got popular prior to TikTok.
So far, Microsoft seems to be the clear cut winning contender for the acquisition but now with Oracle’s entrance, Byte Dance might take advantage of some leverage in the deal.
On the financial forefront, TikTok currently enjoys more than 2.3 billion downloads and its valuation stands in between $30 billion to $50 billion.
Oracle does have close ties to Trump and a proof of that is how Founder Larry Ellison is one of very few tech executives who have always backed Trump without any hesitation. He has even hosted a fundraiser for Trump at his home in Southern California in February. Furthermore, when that just doesn’t seem enough, CEO Safra Catz has also played a key role in Trump's transition team.
So, who knows we might be in for a good surprise ahead when TikTok will make the official announcement of the acquisition.
Read next: Microsoft Expresses Interest in Buying TikTok UK
