Oracle beat out Microsoft, which had also made a bid for ByteDance’s TikTok.
Although the deal won’t be structured as “an outright sale”, Oracle has won the bid for TikTok’s operations in the US, as reported by The Wall Street Journal. This will, for now, allow TikTok to remain operational in the US.
The article cites a South China Morning Post report which highlights that new regulations by the Chinese Government restrict the sale of technological advancements to foreign companies. This could mean that essentially Oracle and the consortium partners won’t have access to the source code.
They may only infact be interested in the TikTok brand name and the vast US user base. The article notes that Oracle may focus on monetising the platform to maximise returns.
[6 minute read]