TikTok has been bought by software giant Oracle after the U.S. government forced the parent company of the popular meme-making, video-sharing app to sell it to a U.S.-based firm or risk having it b…
and his administration declared the social media platform a security threat and said it was being used to siphon users’ data and compromise the U.S. India had previously banned TikTok for similar seasons., Oracle will be announced as TikTok’s “trusted tech partner” in the U.S. However, it won’t be structured as an outright sale.
Walmart had joined with Microsoft for a bid last month in a move that surprised Wall Street. Most analysts had expected Microsoft to prevail on the merits. While it, too, is mostly in the software trade, it has acquired communication platforms like LinkedIn and Skype and also has a thriving video game division, putting it more in touch with TikTok’s core teen-age users.
Trump had imposed a September 15 deadline for the deal to be sealed. When negotiations were complicated by technical aspects of disentangling TikTok’s infrastructure from that of ByteDance, the notion of extending the deadline surfaced, but Trump last week insisted the date was firm.on its dramatic growth. With 100 million users and nearly nine-fold growth since 2018, TikTok is one of the fastest-growing tech companies in recent times.
The app also played a memorable role in an episode that embarrassed the Trump presidential campaign in June. When thousands of ticket requests for a Trump rally in Tulsa circulated on TikTok, campaign officials boasted about record-setting attendance and even set up an overflow area next to the arena. It turned out the buzz was phony, and the ticket demand an elaborate prank. Only a few thousand attended and TV cameras showed thousands of empty seats.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Oracle reportedly wins TikTok after Microsoft’s bid rejectedOracle Corp. will reportedly take over TikTok's business in the U.S. after China's ByteDance rejected Microsoft Corp.'s offer.
Read more »
Oracle Reportedly Wins Bid to Control TikTok in U.S., Microsoft OutOracle is the last remaining publicly known bidder from the U.S. willing to buy TikTok's operations in America.
Read more »
TikTok reaches deal with OracleTikTok has reached an agreement to sell its U.S. operations to 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
Read more »
TikTok picks Oracle over Microsoft in Trump-forced sales bidThe owner of TikTok has chosen Oracle over Microsoft as its preferred suitor to buy the popular video-sharing app, according to a source familiar with the deal. Microsoft announced Sunday...
Read more »
Oracle Reportedly Wins Race To Acquire TikTok’s U.S. OperationsOracle beat out a bid from Microsoft.
Read more »