tiktok bidding
News

Microsoft and Oracle Bidding to Buy TikTok App

New contender in the bid for the TikTok business  Oracle software company owned by Larry Ellison has entered the race to acquire the popular viral video application owned by the Chinese conglomerate Byte dance according to the Financial Times newspaper.

Last week, the president promised to close the company within 90 days unless it is acquired by a US company.

The technology company has had preliminary talks with Byte Dance and was seriously considering buying its operations in the US, Canada, Australia and New Zealand, according to sources cited by the British newspaper.

Oracle would have partnered to undertake the operation with a group of US investors that already have a stake in Byte Dance, including investment funds General Atlantic and Sequoia Capital.

Microsoft has been the leading candidate since it publicly announced earlier this month that it had held talks to explore a purchase of the app’s business in these three countries.

And perhaps something else, because the company founded by Bill Gates appears to be seriously considering an offer to take over TikTok’s global operations in other geographies.

He is interested, above all, in buying the European business and the Indian one. In the latter country, the video app has been banned by Prime Minister Narendra Modi.

Twitter in turn has also had conversations with TikTok Analysts however do not believe that the social network will be able to finance the deal.

The entry of Oracle, in this way, could condition the negotiations of Microsoft, so far the only firm to publicly report its negotiations.

And they do so at a time when the White House has increased pressure on ByteDance by adding the 90-day ultimatum to a previous order that prohibits individuals and institutions in the United States from doing business with the company.

Although he claims never to have given money for his campaigns, the billionaire has organized events to raise funds in favor of the Republican Party.

His bombastic way of life is a compulsive collector of luxurious objects and properties: an island in Hawaii, the sixth largest yacht on the planet, mansions in different parts of the world, art or airlines.

He is one of the great names in American business history and a member of the holy trinity of American computing along with Bill Gates and Steve Jobs.

Oracle, his creation, is perhaps the most important Silicon Valley company of those that the ordinary citizen has not heard of, since it is focused on providing business services and has practically no investment in consumer applications or social media .

The company, the world’s second-largest software maker was founded four decades ago by Ellison himself and fellow engineers Ed Oates and Bob Miner.

He was its CEO from the creation in 1977 until 2014, the year in which he became president of the board of directors and the main technological responsibility (CTO or chief technology officer). It currently has 138,000 employees and invoices about 40,000 million dollars a year.

Leave a Reply

Your email address will not be published. Required fields are marked *