October 23, 2020

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“ByteDance sells TikTok to Oracle”

"ByteDance sells TikTok to Oracle"

The Chinese technology company ByteDance is selling the activities of the video app TikTok in the USA to the software company Oracle. This is what various American media said on Monday.

Oracle becomes TikTok’s “trusted technology partner,” the Wall Street Journal reported, citing an anonymous source. The Washington Post and NBC also report that Oracle was selected after TikTok rejected Microsoft’s offer.

Microsoft announced on Sunday (local time) that it had not been selected. “ByteDance announced today that TikTok’s US operations will not be sold to Microsoft. We are confident that our proposal would have benefited TikTok users while protecting national security interests, ”Microsoft said in a press release.

China is against sales

Bytedance has been negotiating with various parties to get rid of TikTok since US President Donald Trump threatened last month to ban the video app if it weren’t sold. Ultimately, the US fears that all personal data collected by the app will end up with the Chinese government. If the sale is not completed by next Tuesday, the US will ban the platform.

The Chinese company needs US and Chinese government approval for the deal. Beijing had previously expressed its opposition to a forced sale of the US video app business. Chinese officials believe a forced sale would make both ByteDance and the Chinese government look weak against pressure from Washington, the insiders told Reuters. You want to remain anonymous because of the sensitive situation.

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