Oracle Wants to Buy TikTok's U.S. Operations and More

The video app has been ordered to sell its U.S.-based business, but will Oracle or Microsoft make the right offer?

By
Tech 
1,614 Hypes 1 Comments

Reports have suggested that the multinational software company Oracle is in talks with TikTok to buy it out, which would hijack Microsoft‘s bid for the Chinese-owned online video platform.

TikTok’s U.S. operations have been valued at more than $20 billion USD. In recent months, TikTok has been under fire from President Trump, who only last week told the app to sell all of its U.S.-based business within 90 days under an executive order.

Although Microsoft has been working on a partial takeover of TikTok as a response to the executive order, Oracle has reportedly spoken with the app’s parent company, ByteDance, to also acquire a share of the app. Rumor has it that Oracle is also in talks with the app’s investors, General Atlantic and Sequoia Capital, in the hope it can take over operations in the U.S., Canada, New Zealand, and Australia.

As The Guardian reports, analysts have suggested that TikTok’s U.S. division is worth between $20 billion USD and $50 billion USD alone. These figures are why the offer from General Atlantic and Sequoia Capital to buy out a majority stake in TikTok was refused by ByteDance last year, as the company’s value is presumably much more than just what it is worth in the United States.

Lastly, it is worth noting that a deal between Oracle and TikTok could make for a strong political relationship between the app and Trump. Oracle’s co-founder and chief technology officer, Larry Ellison, America’s fifth-richest man, is a public supporter of Donald Trump‘s presidency. Earlier this month, Trump said that the U.S. should get a cut of any deal made in the sale of TikTok, which could be in Oracle and its founder’s favor.

In other tech news, SpaceX has raised $1.9 billion USD in funding.

Read Full Article

What to Read Next

Smino and Monte Booker Sample The Drums for "Backstage Pass"
Music

Smino and Monte Booker Sample The Drums for "Backstage Pass"

Set to appear on the ‘Madden NFL 21’ soundtrack.

Hasbro Unveils Six New Marvel Legends Venom Action Figures
Design

Hasbro Unveils Six New Marvel Legends Venom Action Figures

Collect the different characters to assemble a massive “Venompool” figure.

Popeyes Celebrates Anniversary of Chicken Sandwich With Early Countdown to 2021
Food & Beverage

Popeyes Celebrates Anniversary of Chicken Sandwich With Early Countdown to 2021

Holding a Times Square ball drop 4.5 months early and offering free delivery.


Netflix's 'Patriot Act With Hasan Minhaj' Won't Return for Seventh Season
Entertainment

Netflix's 'Patriot Act With Hasan Minhaj' Won't Return for Seventh Season

The political comedy commentary show comes to an end after 39 episodes.

Unseen LeRoy Neiman Drawings Inspire New DRAWN Exhibition
Arts

Unseen LeRoy Neiman Drawings Inspire New DRAWN Exhibition

Featuring over 200 pieces from 60 artists across the globe.

Rich Brian Delivers Melodic New Cut "Don't Care"
Music

Rich Brian Delivers Melodic New Cut "Don't Care"

Set to appear in his upcoming project ‘1999.’

More ▾
 
Subscribe to our Newsletter

Gain access to exclusive interviews with industry creatives, think pieces, trend forecasts, guides and more.

By subscribing, you agree to our Terms of Use and Privacy Policy.

Help us serve you better

We appreciate your support in allowing HYPEBEAST ads, where we can share contents from the latest fashion, to those culturally relevant. By adding HYPEBEAST to your ad blocker's whitelist, ads on our sites will show while you continue to browse.