Thursday, November 26

Oracle

Apps & Games, bytedance, News, Oracle, TikTok, Walmart

US Government Grants ByteDance Seven-Day Extension To Sell TikTok

The Trump administration has granted ByteDance a seven-day extension of an order ordering it to sell TikTok. New TikTok court documents reveal that the deadline is now December 4. Following pressure from the Trump administration, ByteDance has been in talks with Oracle and Walmart for months to finalize a deal that would change the US assets of TikTok to a new entity. Reuters reports that the extension was granted so that the government could review a new “revised presentation” of the company to the Foreign Investment Committee. Federal courts have also blocked several legal challenges that have proposed bans against enforcement in some form, including restrictions on transactions. Another order that sought to ban Apple and Google...
Apps & Games, News, Oracle, TikTok, tiktok ban, Walmart

TikTok says it hasn’t heard from the Trump administration in weeks as the deadline approaches

TikTok has not heard from the Trump administration in weeks, leading to confusion about the company's future plans. The popular social media platform is trying to figure out whether it should proceed to sell a stake in its business to Oracle and Walmart before the November 12 deadline. Sources say that TikTok is still interested in its partnership with Oracle to satisfy security concerns, even if President-elect Joe Biden is not so adamant about the situation. The November 12 deadline requires TikTok's parent company, China-based ByteDance, "to dispose of any tangible or intangible assets or property, wherever it may be, used to enable or support ByteDance's operation of the TikTok application in the United States ". TikTok filed a...
Apps & Games, News, Oracle, TikTok, Walmart

TikTok’s deal with Oracle and Walmart gets Trump’s approval ‘in concept’

TikTok may have avoided a ban in the United States as President Trump agreed to a deal "in concept." The deal sees Oracle and Walmart claiming a 20 percent investment stake in a new company called TikTok Global, which will run TikTok's operations in the US. Oracle would act as the secure cloud provider and handle US data, while Walmart would use its advertising and e-commerce technology for the social media platform. The US Department of Commerce has delayed the possible TikTok ban until September 27 to allow the deal to be finalized. TikTok Global will be based in the US President Trump has noted that TikTok Global will hire up to 25,000 people and contribute $ 5 billion (about C $ 6.6 billion) to educating people. USA "We are pleased that the proposal by ...
Apps & Games, bytedance, News, Oracle, TikTok

ByteDance Chooses Oracle Over Microsoft in TikTok Sale Offer: Report

Enterprise software giant Oracle reportedly won the tender for TikTok's US operations. Wall Street Journal. The company will be announced as the new "trusted technology partner" for TikTok in the US. Wall street journal it also notes that the finalized deal will not be structured as a direct sale. Oracle's alleged purchase of TikTok's US operations comes a few days before the Trump administration's deadline for the company to sell its operations or face a ban. This report also comes as Microsoft confirmed that TikTok's parent company ByteDance rejected their proposal. “ByteDance let us know today that they would not sell TikTok's US operations to Microsoft. We are confident that our proposal would have been good for TikTok users, while protecting national ...
3rd Party Applications, Oracle, TikTok

Oracle joins Microsoft in potential acquisition of TikTok

Oracle is reportedly teaming up with Microsoft to possibly acquire Chinese-owned video platform TikTok. In a report from Financial times, Oracle has had preliminary discussions with TikTok's parent company ByteDance about a possible acquisition. Oracle has expressed interest in purchasing the application's operations in the US, Canada, New Zealand and Australia. Sources have said that Oracle has been working with a group of US investors, including General Atlantic and Sequoia Capital, to secure an offer for the company's operations. Meanwhile, Microsoft has also been making an aggressive bid on its own. Following the executive order issued by the Trump administration, which required ByteDance to sell its TikTok operations in the US Within 90 days, Microsoft stepped in to ho...