By Dana Sanchez
Oracle, a software and cloud-computing operation with almost no experience running a social-media platform, won the bid for TikTok U.S. operations, beating Microsoft in its quest to partner with the hugely popular China-based video-sharing app.
The sale was forced by U.S. concerns over data security issues after President Donald Trump threatened to shut down TikTok in the U.S, Wall Street Journal reported. The Trump administration said the short-form video-sharing app posed economic and national-security threats to U.S. interests and its U.S. operations needed to be owned by a U.S. buyer. The White House gave Tik Tok owner ByteDance a 45-day deadline on Aug. 6 to sell itself or be banned.
Tik Tok has 100 million monthly U.S. users, up from about 11 million in early 2018.
Oracle has close ties to the Trump administration. CEO Safra Catz worked on Trump’s transition team executive committee in 2016. Co-founder Larry Ellison threw a fundraiser at his house for the president earlier this year.
“Ellison is one of the tech Click here to read entire article