With its deadline to sell or be banned in the U.S. fast-approaching, the Chinese tech giant ByteDance says it won't be selling TikTok to either Microsoft or Oracle, according to China state TV.
In a surprise move, ByteDance rejects a bid made by tech giant Microsoft to acquire the U.S. assets of hit video-sharing app TikTok. The company also spurned Oracle.
Ng Han Guan/APtoggle captionNg Han Guan/APMicrosoft said on Sunday its bid to acquire the U.S. assets of Chinese-owned TikTok has been rejected by TikTok's parent company, ByteDance.Ng Han Guan/APWith its deadline to sell or be banned in the U.S. fast approaching, Chinese tech giant ByteDance said it will not be selling its video-sharing app TikTok to either Microsoft or Oracle, according to China state TV.
Before that report, Microsoft said in a statement that ByteDance informed the company that its bid for TikTok's U.S. operations had been rejected.Microsoft, a $1.5 trillion company, had been seen as the most likely buyer because of its vast resources and long history of doing business with the federal government.
"We are confident our proposal would have been good for TikTok's users, while protecting national security interests," a Microsoft spokesman said."To do this, we would have made significant changes to ensure the service met the highest standards for security, privacy, online safety, and combating disinformation. ... We look forward to seeing how the service evolves in these important areas."
reported Sunday that Oracle was in negotiations to be TikTok's"trusted tech partner," an ambiguous relationship that did not involve an outright sale of the platform, according to theJournal.Oracle, a software company that sells database products and cloud computing services to businesses, did not return a request for comment.
Any potential sale of the app, known for short viral videos of lip-syncing and dance challenges, has been complicated by China's recent decision to restrict how artificial intelligence technology can be exported from the country.The move means that any deal for TikTok might not include the app's sophisticated algorithm, seen as the secret ingredient to its success.
Wedbush analyst Daniel Ives says Microsoft likely was only interested in acquiring TikTok with its algorithm, which ByteDance may have resisted."Given the need now to get a green light from Beijing after its export rules were changed a few weeks ago, TikTok's days in the U.S. likely are numbered with a shutdown now the next step," Ives said."Unless there are some last minute changes, ByteDance heads into the White House deadline this week with some dark days ahead as the plug now likely gets pulled on the TikTok app within the U.S."
For months, the Trump administration has been pressuring TikTok to divorce itself from its Beijing parent company, ByteDance, as officials in Washington fear the Chinese government could use the video app as a tool to spy on Americans.Trumpsigned an executive order
last month that makes it illegal for U.S. citizens to do business with ByteDance or any of its subsidiaries starting on Sept. 20. In a separate action, Trump ordered that TikTok sell off its U.S. operations by Nov. 12. Trump has said several times that TikTok must be purchased by Sept. 15, though it is unclear how that date would be enforced.
Lawyers for TikTok havefiled a legal challengeto block Trump's executive order outlawing transactions between ByteDance subsidiaries and U.S. businesses, saying the move is unconstitutional and is rooted in speculation.TikTok, which has became a super hit during the pandemic, has been downloaded in the U.S. more than 100 million times. The company says it has taken steps to protect the data of Americans, which the company said is stored mostly in the U.S.
Worries that the Chinese government can access such data is unfounded, TikTok has long said, claiming that government officials in Beijing have never asked for data on Americans and if such a request were made, the company would deny it. Read more: NPR »
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ByteDance has no choice sell their entire operation or be ban. CCP simply cannot be trusted Should I care? TikTok is getting shut down. bruh SecPompeo ban TikTok and WeChat. You’re all bark and no bite. What’s taking you so long? It’s a matter of national security right? HouselogBen The actions of the US government provide a despicable way for global business competition! The US can force Douyin to sell its US business to US companies in the name of national security, so other countries can do the same!
Why are we allowing the president to pretend he has the authority to do this? Are we just accepting the dictatorship shit now? Meta: can someone tell me why this is good or bad? It just seems like they chose a random American company to partner up with to avoid being banned ClaireJChu No surprise there
No problem, just shut it down & do mutual destruction altogether! CCP rather sacrifice ByteDance and they won’t let the world know how much American personal data that they have collected thru TikTok ! Let's appreciate India for kicking out tik tok from our lives 🤣👍🏻 Honestly they fact that the administration could make something like this happen is frightening.
The sale, if takes place, will set a precedent for Chinese businesses running data services in America. That is why Washington is for an American company acquiring it and Beijing is against a Chinese company being acquired in this way. I am not using tiktok_us when I heard they are interested in Oracle.
I thought Oracle won the bid Selling to Oracle would have been a better way to kill the app than an outright ban by the US government. Eat the rich. Cuz who really else cares about this? I never liked TikTok anyways. Too much chow mein for my American taste. You might want to update your news report. Deadline lol according to who? Trump lmao🤣
TikTok picks Oracle over Microsoft in Trump-forced sales bidThe owner of TikTok has chosen Oracle over Microsoft as its preferred suitor to buy the popular video-sharing app, according to a source familiar with the deal. Microsoft announced Sunday... .. Damnit 😂
Oracle Wins Bidding for TikTok in U.S., After Microsoft Proposal RejectedOracle won the bidding for the U.S. operations of the video-sharing app TikTok, a person familiar with the matter said, beating out Microsoft Corp. in a deal to salvage a social-media service that has been caught in the middle of a geopolitical standoff. Larry Ellison --- isn't that rump's buddy? Guessing Oracle's just gonna take out a few $B more in debt for this. They'll probably be able to get a 30 year at 300bp for this loan, despite their already crushing debt load. What country will the servers be located in?
Oracle Reportedly Wins Bid to Control TikTok in U.S., Microsoft OutOracle is the last remaining publicly known bidder from the U.S. willing to buy TikTok's operations in America. Control? Tik Tok is owned by the Communist Party of China’s. Oracle will bend over for what Price? So Warriors own TikTok?
Oracle Wins Bid For TikTok, Beating Out Microsoft For U.S. Operations Of Popular Video AppTikTok has been bought by software giant Oracle after the U.S. government forced the parent company of the popular meme-making, video-sharing app to sell it to a U.S.-based firm or risk having it b… so did they buy them or are partnering up with them?
TikTok Picks Oracle Over Microsoft In Trump-Forced Sales BidMicrosoft said its bid for the popular Chinese-owned video app has been rejected by Bytedance, a week before Trump planned to ban it in the U.S. It’s in Asia so. Plus Oracle An oracle is a person or agency considered to provide wise and insightful counsel or prophetic predictions or precognition of the future, inspired by the gods. As such it is a form of divination. Oracle - Trump donor - connect the dots Oracle sucks in the real world let alone hand it tiktok
Oracle will partner with TikTok in the United States after Microsoft loses bidTikTok and Oracle will become business partners in the United States — a deal meant to satisfy the Trump administration's national security concerns, according to a person familiar with the matter. This is another new deal on digital soul slave trading. It is time for the people to take back their personal information and put it in the Universal Basic Income fund. Another realDonaldTrump victory! spaghetti coded db with a spyware app. what could go wrong?