ByteDance, the Chinese Parent company of very popular social media app TikTok was given a deadline of September 15 to either sell their app to an American company or face ban across the United States.
This decision was taken by US Government under an ‘Executive order’ claiming that the Chinese company was using the personal information of American citizens registered in the app and provide it to the Chinese Government hence, risking the security of the citizens and a threat to the national security
The bid by Microsoft rejected at the last minute
Earlier reports said that Microsoft and Oracle were in the race for the ownership of TikTok. Oracle was seriously considering to buy the TikTok business in the US, Canada, New Zealand, and Australia with investment firms including Sequoia Capital and General Atlantic.
It is reported that American Database technology and cloud system company Oracle has won the bidding war a=at the last minute. ByteDance rejected the proposals put forward by Microsoft for ownership of the app.
Oracle was the first priority of Trump to win the bid
On Sunday Microsoft announced that ByteDance would not be selling TikTok’s US operations to Microsoft. Microsoft claimed that they were confident that their proposal would have been useful to TikTok users while maintaining and protecting national security.
This led to the Oracle winning the bidding war. Last month US President Donald Trump said that Oracle would be a ‘great company’ to take over the operations of TikTok. This is due to the fact that Oracle’s Chairman Larry Ellison is a supporter of Trump and also held a fundraising event for him in February.
Trump’s ‘Executive order’ is impractical according to Chinese Company
ByteDance has claimed that US Government is biased and impractical of Chinese companies despite of the records and facts that were provided by ByteDance stating that eh information of American citizens is safe and the app is not a threat to National security.
It’s still not clear of what form of TikTok will be back after the change in the ownership, but 100 million of active users of the app are eagerly waiting for TikTok to make a comeback as early as possible.