TikTok Sells US Operations to Computer Tech Company Oracle Ahead of Trump's Deadline
Microsoft has lost out on the bid to purchase the US operations rights to TikTok!
It was announced over the weekend that computer technology corporation Oracle and the video app’s parent company ByteDance will go into partnership for the US operations.
Microsoft, Oracle and even Walmart were all in talks to take over the operations, and had until September 20th to come to an agreement as President Trump had signed an executive order to ban the app in the US over safety concerns.
“We are confident our proposal would have been good for TikTok’s users, while protecting national security interests,” Microsoft said in a blog post. “To do this, we would have made significant changes to ensure the service met the highest standards for security, privacy, online safety, and combatting disinformation, and we made these principles clear in our August statement.”
In case you missed it, TikTok had previously announced that it was going to seek legal action against the President and his executive order.