Oracle should focus on enterprise-market acquisitions and not invest in a consumer app like TikTok that doesn’t fit with the rest of its business, said Jefferies analyst Brent Thill, who compares the idea to Delta Airlines buying a motorcycle company. Some analysts see Oracle’s interest in a consumer business as misguided. It competes with tech giants such as Microsoft and Amazon that provide cloud services as well as business-software specialists like Salesforce. Oracle primarily makes database software.
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It installed former top Disney executive Kevin Mayer as its American CEO, but he resigned in August after just a few months on the job, saying the “political environment has sharply changed.”īoth Microsoft and Oracle are known more for their business software offerings than for those intended for consumers. The deal had come together rapidly after the administration ramped up its threats against TikTok this summer, despite TikTok’s efforts to put distance between its app and its Chinese ownership.
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That means ByteDance would have to obtain a license from China to export any restricted technologies to a foreign company. In addition, the Chinese government in late August involved itself in the process by unveiling new regulations that restrict exports of technology that appear to include the system TikTok uses to choose which videos to spool up to its users. government should get a “cut” of any deal, a stipulation and role for the president that experts say is unprecedented. The sale situation has been complicated by several factors, including Trump’s repeated demands that the U.S. TikTok has sued to stop the ban, but not the sale order. Enterprise software company Oracle reportedly did make a bid, as reported by The Wall Street Journal, The New York Times and several other outlets. Several other big tech companies including Facebook and Google considered a TikTok bid. Originally a home for wacky music-filled amateur videos, TikTok has rapidly grown its own roster of influencers and attracted stars such as Alicia Keys, Dua Lipa, Justin Bieber, Katy Perry and Snoop Dogg – and built a U.S. The Beijing-based media and tech company bought the teen-focused social app Musical.ly the following year, and the company merged the two apps in 2018. TikTok, known as Douyin in China, was developed by the Chinese company ByteDance in 2016. 20 deadline was to announce a plan for the sale, or to be banned in the U.S. 2 most downloaded app on the Apple store, and No. In the latest app store charts, TikTok is the No. TikTok is one of the most popular apps for young people, with over 100 million downloads.
Trump said in announcing his order that he was concerned TikTok was collecting personal information and more from TikTok users and that ByteDance, which is based in China, would be forced to share it with the Chinese government. He owns Lanai, one of the six main Hawaiian islands. According to Forbes, Ellison is one of the world's wealthiest men, worth $74.9 billion. The company was formed in 1977 by Larry Ellison and other partners. Like Microsoft, Oracle's main business is targeted to enterprises, and cloud computing. Showbiz: TikTok influencer Addison Rae Easterling to make acting debut in remake of 'She's All That' Making money on TikTok: Creators will be able to sell merch from the app
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