Skip to comments.Chinese Social Networking Company TikTok reaches deal to sell U.S. operations to Oracle, rejects Microsoft's plan
Posted on 09/13/2020 7:54:38 PM PDT by SeekAndFind
TikTok has reached an agreement to partner with software giant Oracle, a landmark deal that could redefine how the U.S. and China square off over the reach of their homegrown technology companies.
The deal, which was confirmed Sunday by a source with direct knowledge, comes after the Trump administration pressured TikTok to sell its U.S. business over concerns about the threat to national security. The administration alleged that the company's ties to China through its parent company, ByteDance, meant it would have to hand over data about Americans if asked by China's government. TikTok has denied that it would hand over data, which it stressed is stored outside China.
The source would not detail which parts of the technology were being taken over by Oracle, which did not immediately respond to a request for comment Sunday. Microsoft had been considered a front-runner to buy TikTok US until this weekend. Microsoft said earlier that ByteDance had alerted the company that it was passing on its proposal.
TikTok declined to comment.
The short-form video app burst into popular culture in the past few years, becoming one of the few recent social media upstarts to offer a credible rival to U.S. giants like Facebook and Snapchat. The app, which gives users the ability to create short videos matched to sound or music, has created its own generation of celebrities and countless dance trends.
But its ties to China emerged in the past year as a quiet point of contention in Washington. In November, TikTok was mentioned as a national security threat, and the U.S. government opened an investigation. Since then, Secretary of State Mike Pompeo has said the U.S. was "looking at" banning the app, and President Donald Trump has threatened to do so several times.
(Excerpt) Read more at nbcnews.com ...
How does that make sure they are not stealing data?
It is spyware and it snoops your clip pad.
And the USA isnt the only country looking to ban it.
Trump has a better relationship with oracle CEO and almost anything is better than gates. oracle ceo at least donates to Rs also.
No this doesn’t really answer your question :)
I guess i’m thinking there a better chance oracle will work with Trump to make sure they put a stop to it..as much is possible
That’s a pretty good answer.
You know, I remember someone from the Bill Clinton camp somehow being involved with Oracle back around 2000? Does anyone know who?
It was widely reported that Microsoft was the front runner in this attempt to buy this Chinese company. If true, Oracle has no need for this POS company, and cannot afford it, taking on debt. We will see what the specifics are, but glad to see Microsoft has not wasted its money and resources on this.
Oracle CEO is politically agnostic; his company is all about security and privacy of data - at least data held by their customers.
Larry Ellison said he supports Trump and wants him to do well: ‘I don’t think he’s the devil’
Avery Hartmans Apr 1, 2020, 3:58 PM
****** Ellison and Oracle should work out OK on their buying tik-toc
Agreed! The is the best outcome I was hoping for!
And is Joe Lockhart, Bill Clinton stooge still on the board of Oracle?
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