Oracle has expressed an interest in buying the TikTok business in the US, making it a potential competitor to Microsoft in its bid to acquire the popular Chinese-owned short video app, according to mentioned The Financial Times, citing people who saw the matter.
Oracle had held initial talks with TikTok’s owner, ByteDance, and was seriously considering buying the app’s business in the United States, Canada, Australia and New Zealand, according to the Financial Times report.
According to the information, the company has also been working with American ByteDance investors and venture capital firms such as General Atlantic and Sequoia Capital.
And the Financial Times reports that Larry Ellison, the co-founder of Oracle, is one of the few tech executives in the United States who have publicly supported Trump.
US President (Donald Trump) ordered ByteDance Corporation to separate the commercial activity of the app in the United States within 90 days.
Microsoft has emerged as the first candidate to buy the app’s business in the United States, while media reports indicate that a number of other companies have joined the battle, including Twitter, but it has been said: There are serious concerns about its financial ability to deal.
However, Microsoft co-founder Bill Gates warned of the deal, and Gates said in a recent interview: Who knows what will happen with this deal that is likely to become a source of trouble for us.
The Washington Post reported earlier that the sale is easier said than done because of a complex set of legal and technical hurdles.
Microsoft or any other company that buys TikTok needs to audit all code, servers, business contracts, processes, and even employees before making any material changes.
“I suspect this could take at least several months, maybe even years,” said Patrick Jackson, a former National Security Agency researcher who is now chief technology officer at Disconnect, a privacy software company.
While ByteDance did not publicly mention a price, TikTok’s success propelled it to become the world’s most valuable startup in 2018.