On Sunday, ByteDance ditched the United States by abandoning the decision of selling it off in the country. Instead, not it is looking forward to allying with Oracle Corp in a quest to get spared from the potential ban.
The musical application based in Beijing, China has been in continuous talks with Microsoft Corp and Oracle to divest its business after President Donald Trump threatened to shut down the video app if it did not sell it.
Besides, the U.S. government is also concerned that the Chinese counterpart may misuse the confidential information of its citizens. Interestingly, TikTok has more than 100 million U.S. users, which looms a large threat to the country’s sovereignty.
Notably, China had revised its export rules late last month to have a say on the TitTok’s algorithm transfer to a foreign purchaser. As per the deal proposal, Oracle will act as a technology partner of the company. It will see the user data management of TikTok.