Donald Trump, the president of the US, said that Oracle, a tech giant company, would be a great choice to take over the TikTok operations of the US. His statement came into the views soon after the Oracle gets reported as one of the buyers in the list to take over the Social media Chinese application businesses in the regions of Australia, New Zealand, and North America.
TikTok is a social media video streaming and sharing platform of a Chinese company and is widely used across the globe. Recently, it lost millions of its Indian fans due to the Indian – China clash but still reached 2 billion+ downloads. And now, it is facing a risk of its business getting shut down in the US too.
Previously, in the second week of August 2020, Donald Trump also ordered ByteDance, the owner of TikTok to either sell their business of US in the coming 90 days or face the risk of being shut down.
Oracle is an American corporation of computer science and technology and provides database technologies and software, systems engineered with cloud technologies, and also some software products.
Larry Ellison, a chairman of Oracle Corporations, is one of the supporters of Donald Trump, and he also organized an event in February 2020 for fundraising for Mr Trump. The event was a fundraiser of a high profile and held at Mr Ellison’s California’s private estate and golf course.
In a speech in Yuma Arizona, Mr Trump disclosed that reports stated that Oracle has already been working to sign some deals for a few of the assets of TikTok with the investors of ByteDance. The same reports also indicate that Oracle was severe towards the fact of considering buying the businesses of TikTok in Australia, New Zealand, Canada, and the US. Oracle was discussing with a few investors like Sequoia Capital and General Atlantic for the same.
Previously, in early August 2020, Mr Trump also stated that if an American firm brings the US unit of TikTok, then the government must also receive an essential portion of the selling price.
TikTok’s current position in the US markets:
White House said that in the second week of August 2020, the Committee on Foreign Investments in the US (the US government panel handling all of their foreign-based transactions), recommended that ByteDance should sell TikTok’s US operations within 90 days.
There have been shreds of evidence that ByteDance used TikTok to exploit the security of the US, as unveiled by Mr Trump. However, ByteDance keeps on denying that they ever shared any user data with anyone!
Several of the global commentators viewed these attacks by Washington on TikTok as one of the parts of the trade conflict ongoing with Beijing.
All about the TikTok’s rival bidders:
Microsoft disclosed recently in early August 2020 that it had some discussions with ByteDance and came out as a lead contestant in the buyers’ list of TikTok business.
Twitter, which is one of the rival social media of TikTok, also approached ByteDance exhibiting its interest in buying the US operations of TikTok.
For the time being, Donald Trump also joined another of the TikTok’s New York-based rivals, Triller.