Right after US President's executive order on banning TikTok, it was also reported that Microsoft was interested in acquiring the company from ByteDance. After a few weeks, we had to wait if the acquisition was successful or not but it turned out that Microsoft is no longer acquiring TikTok due to the rejection by ByteDance.
The statement was published on Microsoft's official blog just yesterday, which was a simple paragraph of how the company's expectations were not met even though they have made changes for "security, privacy, online safety, and combatting disinformation". Although they have made the principles clear in their August statement, ByteDance still refused the offer so that's all that. So now what?
Well, with Microsoft out of the picture. There is new information that Oracle was secretly bidding for TikTok all this time. According to The Wall Street Journal and Engadget, Oracle has successfully won the acquisition but there is no official news about this by the company itself, ByteDance, nor the US Government. We might probably take this news with a pinch of salt for now.
Honestly, ByteDance rejecting the offer by Microsoft was a surprising one as the company should have no problem in transferring the millions of data. We aren't sure how Oracle could incorporate TikTok into their business model as well. Stay tuned for more trending tech news at TechNave.com.
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