Oracle in talks for TikTok's US operations, Trump says a good company
By Vivek Raj | Galatta | Aug 19, 2020, 11:15 am
US President Donald Trump on Tuesday said that the American multinational computer technology company Oracle Corporation is a good enterprise and could take over the operations of the Chinese-owned social media app, TikTok, in the United States. The statement comes after Trump issued an order mandating the app's sale in 90 days.
International news organization Reuters is reporting that Trump's statement has come at a time after Oracle recently came together with a few investors of TikTok's Chinese owner, ByteDance, in regard to a proposal for the short-video app's operations in North America, Australia and New Zealand.
Oracle venturing into pursuing TikTok's operations would be taking a completely new route considering the company has been primarily catering to corporate customers and generating the bulk of its sales from cloud offerings and software licensing.
Co-founder and Chairman Larry Ellison, has openly endorsed President Trump, after he ordered ByteDance to divest TikTok upon concerns that sprung up over the safety of the personal data of US consumers. Mr Trump has stated that there was "credible evidence" that ByteDance was using TikTok to breach US security. However, ByteDance has gone on to repeatedly deny the allegations of improper sharing of users' data.
It is to be noted that Oracle is already collaborating with a few of ByteDance's investors among whom include General Atlantic and Sequoia Capital, in regard to proposing an offer for the TikTok assets that would pose a challenge to a bid from their rival, Microsoft Corp, as per reports. However, ByteDance, TikTok, Oracle, General Atlantic and Sequoia have not yet responded to the reports that have surfaced.