Oracle wins TikTok’s U.S. Assets

Oracle will partner with TikTok in the United States after Microsoft lost its bid. This sale, though its exact nature is still unclear, came about due to the executive orders issued by the U.S. President Donald Trump on August 6th seeking to ban TikTok in the country. Trump and other politicians were of the opinion that the app is a threat for national security. Microsoft’s pursuit of TikTok was considered a great opportunity for it to annex one of the world’s fastest growing social media platforms. Walmart was also in the fray for a potential deal of TikTok, and is said to be still interested in an investment; hence is still in discussions with the Beijing-based parent company, ByteDance.