Oracle is reportedly in talks with ByteDance for acquiring TikTok, according to the Financial Times. Larry Ellison’s enterprise software is already in talks with TikTok’s parent company ByteDance and is working with venture capital firms including General Atlantic and Sequoia Capital, and is really interested in acquiring its business in the US, Canada, Australia, and New Zealand.
On Friday, US President Trump issued an executive order, ordering ByteDance to sell its US business within 90 days. The Financial Times notes that Oracle’s billionaire co-founder Ellison is one of the few US tech executives who has been openly supportive of Trump, though it’s not clear whether Oracle would be the White House’s preferred suitor for TikTok.
Now until now, Microsoft was the front runner in acquiring TikTok’s business. The FT corroborates earlier reporting from The Wall Street Journal that said Twitter had also expressed an early interest, but there are said to have been serious concerns about its financial capacity for the deal.
Now, at the moment ByteDance has said anything about its price or who is it considering to sell its business but it looks like there are a lot of buyers who are interested in the deal.
