Larry Ellison’s company had preliminary talks with Chinese owner ByteDance and is competing with Microsoft for the video sharing social network.
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This story originally appeared on PCMag
Technology company Oracle has entered the race to acquire TikTok’s North American operations. The Financial Times. Larry Ellison’s company had preliminary discussions with Chinese owner ByteDance and is “seriously” considering buying the app’s business in the US, Canada, Australia and New Zealand, according to unnamed sources.
Oracle may have competition from Microsoft, which confirmed earlier this month that it had met with ByteDance about a possible purchase. Although it is still in the preparatory phase, all negotiations must be completed by September 15, otherwise TikTok will be banned in the US, Donald Trump said. The president recently signed two executive orders banning companies from doing business with ByteDance and Tencent, which owns the messaging service WeChat. A week later, Team Trump joined the competing social network Triller.
Oracle co-founder and CTO Ellison, the fifth richest person in the world, is one of the few people in Silicon Valley who openly supports Trump The Financial Times. In February, 76-year-old Ellison hosted a fundraiser for the incumbent president at his California estate.
Any purchase of any part from TikTok would be complicated to say the least and would require separating the back-end technology from ByteDance. Meanwhile, a nationwide ban wouldn’t prevent fans from accessing the popular show over a VPN. Oracle, which is reportedly working with venture capital firms General Atlantic and Sequoia Capital to close a deal, declined a request for comment from PCMag.
Over the summer, Secretary of State Mike Pompeo told Fox News that the US government wanted to ban certain social media apps from Chinese companies, including TikTok. The concern is that China will use these popular platforms to spy on international users. The United States has not yet provided evidence of this.
Now TikTok “clears up” things and deals with rumors and misinformation via a new clearing house and a new Twitter account. “We’re taking another step forward to continue building trust in our TikTok community by delivering the facts in our own words and the words of leading cybersecurity experts, media and academia,” the company said in a blog post. “Because we do not support or support the dissemination of misinformation on our platform or on our platform.”