TikTok is up for grabs. ByteDance Ltd., TikTok’s parent company, wants to offload the platform’s U.S. operations as a way to prevent the imminent ban facing the platform over security-related concerns.
U.S. President Donald Trump already issued a notice to ByteDance to offload its U.S. operations or face a ban in 90 days. Trump also banned WeChat, although he has shown no interest in advising its parent company to give up U.S. operations like in the case of TikTok.
Oracle has recently joined the race, following Microsoft’s commitment earlier this month. Trump is vouching for Oracle’s TikTok acquisition interests a move that will see the software giant try its fate in a new market.
Oracle is considering to buy TikTok’s operations not only in the U.S. but also in Canada, Australia and New Zealand. Contrary to Microsoft which has decided to try to close the deal individually, for now, Oracle is teaming up with several investment firms – including General Atlantic, Sequoia Capital etc.
Recent reports from the WSJ have suggested Jack Dorsey’s Twitter is currently exploring a bid.
In other TikTok-related news, Trump has recently joined Triller, a U.S-based TikTok rival.