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Oracle’s improbable TikTok talks have a simple explanation: data
- Oracle’s preliminary interest in making a bid for TikTok looks like an awkward fit on first glance, but the match may not be as far-fetched as it appears
- The company’s possible pursuit of the deal makes more sense in light of its desire to build up its cloud-computing and consumer-data businesses
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Oracle’s preliminary interest in making a bid for TikTok, on first glance, looks like an awkward fit – the 43-year-old software giant best known for legacy corporate databases and the music-video sharing app beloved by teens seem as different as two companies can be.
But the match may not be as far-fetched as it first appears. The world’s second-largest software maker has approached investors including Sequoia Capital to partner on a bid for TikTok’s business in the US, Canada, Australia and New Zealand, people familiar with the matter told Bloomberg late Monday.
The company’s possible pursuit of a deal for the social network, owned by China’s ByteDance, makes more sense in light of Oracle’s desire to build up its cloud-computing and consumer-data businesses – and comes into even clearer focus considering Oracle’s close ties to US President Donald Trump and chairman Larry Ellison’s cheerleading for American tech interests.
Microsoft has been seen as the front-runner in the race to acquire TikTok’s US assets, and is the only company to publicly confirm talks with ByteDance. Trump told reporters Tuesday that Oracle also is interested in TikTok and “could handle” a purchase of the service.
The president on Friday ordered ByteDance to sell its US assets within 90 days, adding to an earlier executive order that would prohibit US persons and companies from doing business with TikTok effective 45 days from August 6.
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