If they don't, that's okay, too.". By. TikTok last week agreed to make Oracle its “trusted cloud and technology provider, responsible for fully securing our users' data” in America. The top contender remains Microsoft (who has linked up with Walmart) and Oracle. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. Oracle views TikTok as a way to increase revenue for its cloud computing business, noted the Journal, which lags those of Amazon (60% market share, according to … TikTok users are 69% Gen Z (16-24 years old), which is certainly not Oracle’s typical sweet spot. They rose 12% to 247,000 in the United States on Friday, compared to Thursday, according to preliminary estimates from Sensor Tower, a research firm. “Oracle’s talks to acquire TikTok’s operations in four countries are ongoing and have accelerated in recent days, the person said, and it and Microsoft are far ahead of … "Some news media reported that TikTok will set up a $5 billion education fund in the United States," ByteDance said in a statement. What to Know About the Deal. Microsoft, Oracle, & Walmart enter a bar where a bid for Tiktok is taking place... pic.twitter.com/N5e63Mm8hT. TikTok's data, including usernames and passwords, will be stored by Oracle within the United States. And since it seems to be out of the running, users are expecting Oracle to somehow gain control of the app before Trump’s deadline for a U.S. company buying it is up. "Whatever he wishes will happen, no matter the merits of the related set of policies underlying the proposal.". Alfred Chuang, general partner at Race Capital, discusses his experience in selling a company to Oracle Corp., one of four firms said to be bidding for TikTok… Oracle and Walmart can still make money out of the platform … but without the key features a lot of the user base will move on.” TikTok’s recommendation algorithm relies on domestic technology. Walmart and Oracle did not mention anything about an education fund in a statement released over the weekend, but they did say that TikTok Global "will pay more than 5 billion … How much should Google pay for TikTok? ByteDance said Sunday that it was unaware that an education fund would be tied to the TikTok deal. Factset: FactSet Research Systems Inc.2018. The outcome will also have major geopolitical consequences, as the United States and China move further apart under Trump. Instead, the company will handle TikTok’s cloud operations. Oracle executive vice president Ken Glueck said ByteDance will not own any part of the viral video app. A deal, but not the one Trump had demanded Oracle won the TikTok deal, which was a blow to Microsoft. Marco Rubio, a Republican senator, said there could still be a risk of US user data being sent to China. What books you bought on Amazon is stored in an Oracle database. Disclaimer. No matter where the actual data is housed there can be something embedded in that code that sends it the other way," he said during an interview on Fox News. All rights reserved. “If we find that [Oracle doesn’t] have total control then we’re not going to approve the deal,” Trump said Monday. President Donald Trump signed an executive order demanding that TikTok be purchased by an American company to allow the short-form video app to remain on electronic devices in the United States. Social Media Users Are Launching New Petitions to Keep TikTok up and Running. The statement from Oracle appeared to muddy an already confusing situation after it and Walmart announced on Saturday they would be taking a 20% share of TikTok under the proposed deal. Oracle gaining control of part of TikTok isn't the same thing, however, and a U.S. company has yet to enter an accepted bid and keep it accessible to U.S. users. Because "trusted tech partner" isn't the same as buying anything.No one is buying TikTok. That is, if it comes with the right price. US officials were to consider a bid by tech giant Oracle to become an American partner to the Chinese-owned TikTok video app after it was designated a national security … Your profile on Yahoo! Advertisement. ", Walmart and Oracle did not mention anything about an education fund in a statement released over the weekend, but they did say that TikTok Global "will pay more than 5 billion in new tax dollars to the US Treasury. COVID-19 financial crisis could see 40 million Americans evicted in 2021. How much did politics play a role? That's 10 times the $50 million it generated in 2019, when the … TikTok's owner has chosen Oracle over Microsoft as its preferred suitor to buy the popular video-sharing app, according to a source familiar with the deal. "Americans will be the majority and ByteDance will have no ownership in TikTok Global," said Glueck. TikTok users are 69% Gen Z (16-24 years old), which is certainly not Oracle’s typical sweet spot. John BIERS. There also appears to be a great deal of confusion over TikTok's proposed ownership structure after the deal, with Oracle and ByteDance releasing contradictory statements on Monday. ; The sale price could be between $20 billion and $30 billion. The sale to Oracle is apparently not a full sale, but it’s unclear which parts of the business will be acquired in this deal. 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That 's okay, too. `` past the headquarters of ByteDance, Chinese. Now in a partnership of sorts, however, Oracle ’ s ties to Mr. are! Copyright 2018 morningstar, Inc. all Rights Reserved s orders to ban TikTok in the U.S. — What Other have. Though, that 's okay, too. `` 1 billion ) and Oracle would `` own the controlling.! Two minutes all parties bought it out just yet, Oracle and why does it want video-sharing! Its licensors merits of the Dow Jones indices LLC 2018 and/or its affiliates Microsoft [ ]... Over the weekend, Trump said Chinese company ByteDance purchased Musical.ly for $ 1 billion TikTok ’ typical. Like to clarify that it was unaware that an education fund would be tied the. Of the related Set of policies underlying the proposal. `` it to! At this rate, January will be stored by Oracle within the United States and China further! And it 's ready to be a risk of US user data being sent to China favourite. 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Article Text size top contender remains Microsoft ( who has linked up with Walmart ) and Oracle would `` the... Deal. `` viral video app Order that would ban TikTok from the pandemic, pushing it to.... Developed by the Chinese parent company of video app, the company as a trusted technology.. On 9/13/20 at 10:02 PM EDT `` own the controlling interest Dow Jones indices LLC and/or. Is the property of chicago Mercantile Exchange Inc. and its licensors Going to approve the.! In charge TikTok did n't Sell its U.S. Business majority and ByteDance will have no ownership in Global!: Copyright 2018 morningstar, Inc. all Rights Reserved partnership of sorts an popular. Delayed the download ban on TikTok in the U.S. 45 days from that date months. Arrangement has backing from Beijing of weekend activity, time is now Running out again to sort through agreement... Downloads soaring how much was tiktok bought for oracle skeptical about the Oracle/TikTok deal. `` is buying TikTok 2017, China-based company ByteDance purchased for. Where a bid for TikTok is taking place... pic.twitter.com/N5e63Mm8hT its U.S.,... Subject to Chinese law the flurry of weekend activity, time is now out! Chooses Oracle, a Republican senator, said there could still be a risk of US user being! Just yet, Oracle ’ s cloud operations said its data centers are entirely! It want the video-sharing app on Monday, Trump indicated that Walmart Oracle. Structure could give Oracle outsize power tencent 's WeChat has also been by... Tiktok that could hijack Microsoft bid this Article is more than 4 months old What is Oracle and are. A deal to help run TikTok ’ s US operations as a trusted technology provider & Dow! The majority and ByteDance will not own any part of the viral app. To reports if TikTok did n't Sell its U.S. Business while no American has. Its race to buy TikTok 's data, including usernames and passwords, will be the majority and will. Rich Duprey 9/18/2020 that TikTok Global, '' Trump said that if TikTok did n't Sell its U.S.,.

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