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Microsoft’s bid to purchase TikTok’s US operations was rejected, the company announced Sunday, with Oracle reportedly winning the bid to help run the popular social media app in the states. The deal between Tiktok’s Beijing-based owner ByteDance and Oracle is not believed to be structured as an outright sale, a source told The Wall Street …
Microsoft’s bid to purchase TikTok’s US operations was rejected, the company announced Sunday, with Oracle reportedly winning the bid to help run the popular social media app in the states.
The deal between Tiktok’s Beijing-based owner ByteDance and Oracle is not believed to be structured as an outright sale, a source told The Wall Street Journal.
Instead, the software giant is set to be the app’s “trusted tech partner,” in the US, the report said.
ByteDance had been in negotiations with Microsoft and Oracle since August when President Trump issued an executive order banning TikTok if a deal was not reached mid-September.
A separate order Trump issued Aug. 14 gave ByteDance 90 days to divest the app’s US operations, suggesting that it had until Nov. 12 to find an American buyer.
Microsoft earlier Sunday announced in a statement they were out of contention.
“ByteDance let us know today they would not be selling TikTok’s US operations to Microsoft,” the company said.
“We are confident our proposal would have been good for TikTok’s users, while protecting national security interests.”
Trump and other US officials have expressed concern that TikTok would sell user data to their government, but the Chinese-based company has insisted that’s not the case.
