The Winning Bid Of Oracle
Oracle Wins The Bidding For TikTok By Defeating Microsoft: Oracle and Microsoft were trying to win over the US operations of TikTok. Well, it looks like Oracle has defeated Microsoft in this race. TikTok and Oracle have not yet commented anything, with the former calling this news a rumor. Supposedly, Oracle has purchased the US operation of TikTok. It might put an end to the uncertain future of the app within the country.
In September 2020, Trump has scheduled a ban on this app in case this app can’t reach an agreement with the buyer. The news of this purchase came just a few days before this deadline. There has been some uncertainty regarding the deadline as last week, and only Trump told me that there wouldn’t be any extension after the 15th September deadline.
What Could Be The Future Of TikTok?
The parent company ByteDance has rejected the bid that Microsoft made on Sunday. Microsoft will be making some changes to the security and privacy area. They were quite sure that whatever they were offering could have helped the TikTok users to a large extent. Due to National Security and Defense, earlier this year, India banned TikTok along with 58 more apps.
We can see Oracle going out of its database roots and getting into various other fields like marketing and cloud. Earlier this year, Oracle also had its partnership with Zoom. There could be a massive boost in the Tik-Tok company, almost up to 10% after this deal.
Political Tension Regarding The Deal
Beijing’s approval of this deal has been a surprise to many. Supposedly, Beijing would instead let TikTok get banned in the US rather than being okay with this forced buy. There are a lot of uncertainties in this deal where a significant question is whether Oracle will be able to become the owner of TikTok, or it will have to settle down as a minority stakeholder. Whatever happens, ByteDance will try to avoid the political tension around this deal.