- Apr 12, 2001
Oracle has expressed serious interest in acquiring TikTok, according to the Financial Times.
Oracle reportedly has already held preliminary talks with TikTok's China-based parent company, Bytedance, to explore the terms of an acquisition. Oracle is also believed to be working with venture capital firms including General Atlantic and Sequoia Capital to raise funds for a bid.
Serious interest from Oracle poses a potential threat to Microsoft's bid, which is currently regarded as the frontrunner. Microsoft has officially provided a formal proposal that would involve the purchase of TikTok's operations in the United States, Canada, Australia, and New Zealand. Twitter is also understood to be exploring an acquisition of TikTok, but there are serious questions around its ability to raise the necessary capital to do so.
Oracle is a multinational technology company focused on database software and cloud systems. Last year, Oracle was the world's second-largest software company by revenue and market capitalization, and it would likely be able to fund a potential acquisition of TikTok.
President Donald Trump issued an executive order on Friday demanding that ByteDance sells its U.S. operations within 90 days. The Financial Times noted that Oracle's billionaire co-founder Larry Ellison has been openly supportive of President Trump, but it is unclear whether this would consolidate Oracle as the White House's preferred choice.
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Article Link: Oracle 'Seriously Considering' Acquiring TikTok