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While TikTok"s race against President Donald Trump"s deadline for a sell-off is inching closer, a new potential bidder for the short-form video app has emerged. Oracle is the latest tech giant to be reportedly in talks to acquire some operations of TikTok.
The Financial Times reported today that the computer software giant has held talks with representatives from ByteDance over a potential sale of TikTok"s business in the U.S., Canada, Australia, and New Zealand. Oracle is said to be collaborating with its partners Sequoia Capital and General Atlantic, both of which already own some stakes in ByteDance.
Oracle"s rumored bid to acquire parts of TikTok puts up a potential challenge to Microsoft"s interest in the platform. Until recently, the Redmond giant had been at the forefront in efforts to search for an American buyer for TikTok. Earlier this month, President Trump signed an executive order banning transactions with TikTok (and other Chinese firms) in the country by September 20, unless its parent company manages to sell it to a U.S. firm.
Aside from Microsoft, Twitter also recently emerged as a potential buyer, although financial issues could complicate its chances of acquiring TikTok. Oracle is seen as an unlikely challenger to Microsoft given its nature of business, and it"s not certain what value TikTok may bring to the company.
Source: Financial Times via TechRadar