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Oracle steps into battle for TikTok


Software company Oracle is also reported to be interested in a takeover of TikTok video app. Bloomberg News Agency reports, based on insider information, that the US company software developer is considering making an offer on the Chinese app, which has recently been heavily under attack in the United States. With that bid, Oracle would like, among other things, to compete with Microsoft.

Oracle has already approached other parties, including investor Sequoia Capital, according to sources, to work together on a proposed acquisition of the app’s activities in the USA, Canada, Australia and New Zealand. How much money is involved is not clear. The American branch of TikTok has previously been valued by connoisseurs at some 20 billion to 50 billion dollars. Oracle, the world’s second largest software maker, refused to comment.

If Oracle’s attempt is continued, This will probably put Microsoft’s negotiating position under pressure. Microsoft has so far been the only party that has confirmed to be in conversation with the Chinese owner of TikTok, ByteDance. Earlier it was revealed that Twitter is probably also interested in TikTok accused of espionage.

According to American politicians, the popular film app collects too much data from its users and it could just fall into the hands of the Chinese government, they think. President Donald Trump has therefore issued a decree that TikTok will be banned in the US in mid-September unless the American branch is sold.

However, it has not yet been said whether it actually comes to a sale. According to TikTok-mother ByteDance, a deal is unlikely, as was reported earlier. Instead, the Chinese company would like to challenge Trump’s decision to impose a ban.

Oracle is an interesting new name that pops up in this case. The company is controlled by co-founder Larry Ellison. He is one of the few major businessmen from techhub Silicon Valley who openly supports Trump. The billionaire has even organised a fundraiser for the American president from his estate before.

Written by: Patrick O'Brien

Patrick O'Brien is a student who is taking only the first steps in journalism. The main interest is events from the world of macroeconomics and finance.

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