Business, Politics

September 14, 2020

Oracle wins bid for TikTok

Source: Flickr (Chang Ju Wu) 

The Gist

The computer tech giant's winning bid may make it possible for TikTok to avoid being banned in the United States. 

The List

  • ByteDance, the Chinese company behind TikTok, has reached an "agreement" with Oracle after rejecting Microsoft's bid to purchase TikTok. 
  • US President Donald Trump had issued an executive order which would ban TikTok on September 15th if not purchased by an American company. 
  • ByteDance hopes that the agreement with Oracle will satisfy US regulators, though neither party has confirmed that TikTok has been purchased.  
  • TikTok has come under scrutiny for unknowingly accessing sensitive data from its users.
  • While ByteDance is a Chinese company, all corporations in China are owned by the Chinese government. 

Additional information

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