Social Media

ByteDance rejects Microsoft’s bid for TikTok – Opts for Oracle instead

Microsoft’s bid for acquiring the U.S operations of TikTok was put to a halt as the parent company rejected the bid and reports are circulating that they have opted for Oracle’s services. Oracle confirmed in a statement earlier that is was part of the proposal submitted by ByteDance to the Treasury Department over the weekend in which Oracle will serve as the trusted technology provider.

TikTok’s fate in the U.S has been uncertain as the Trump Administration wants them to either exit the market or be acquired by a U.S based company which will revamp the operations of the company and completely shift them to a new infrastructure. Microsoft announced on Sunday that their bid to acquire TikTok had ended. In a statement, a representative mentioned, “We are confident our proposal would have been good for TikTok’s users, while protecting national security interests. We look forward to seeing how the service evolves in these important areas.”

TikTok has previously been banned in India over fears of national security issues. For Oracle, if they were to acquire TikTok’s US operations, it would essentially mean that they would have a significant hold of the market share in one of the top economies of the world.

Do you think Oracle will acquire TikTok US? And do you consider TikTok to be a national security issue?

Sponsored
Shaheryar Ehsan

Content Team Lead. Blogger, Content Developer, Social Media, and SEO Expert. Reach out: shaheryar.ehsan@techjuice.pk

Share
Published by
Shaheryar Ehsan
Tags: Tiktok

Recent Posts

Yahoo Surprises Users with Its Latest Android Launcher

Third-party apps have long been a staple of the Android ecosystem, but their appeal has…

23 mins ago

Phase-II Review of PTCL-Telenor Deal Finalized by CCP

ISLAMABAD: The Competition Commission of Pakistan (CCP) has completed its Phase-II review of Pakistan Telecommunication…

27 mins ago

Xiaomi’s SU7 Achieves New Production Record, Driving Q3 Growth

Xiaomi has shattered records by producing 100,000 vehicles in just 230 days. This is nearly…

2 hours ago

Teachers Can Now Access OpenAI’s Free AI Course

OpenAI, in collaboration with nonprofit organization Common Sense Media, announced on Wednesday the launch of…

3 hours ago

WhatsApp-Inspired Updates Under Testing in Google Messages

Google is exploring a revamped image-sharing interface in its Messages app, taking cues from WhatsApp…

3 hours ago

Create AI Video Backgrounds with YouTube Shorts’ Dream Screen

When it comes to online video streaming, YouTube is among the most well-known options. Every…

3 hours ago