ByteDance picks Oracle as partner to try to save TikTok US
Source: The Jakarta Post
Published on: 2020-09-15 03:37
Oracle Corp said on Monday it would team up with China's ByteDance to keep TikTok operating in the United States, beating Microsoft Corp in a deal structured as a partnership rather than an outright sale. ByteDance, TikTok's Beijing-based owner, had been in talks to divest the US business of its hugely popular short-video app to Oracle or Microsoft after US President Donald Trump ordered the sale last month and said he might otherwise shut it down. While TikTok is best known for dancing videos that go viral among teenagers, US officials are concerned user information could be passed to China's Communist Party government. TikTok, which has as many as 100 million US users, has said it would never share such data with Chinese authorities. Sale negotiations were upended when China updated its export control rules last month, giving it a say over the transfer of TikTok's algorithm to a for...
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