Technology giant Oracle is in the box seat to buy TikTok after Microsoft’s offer to buy the viral social media platform’s US operations was rejected by its Chinese parent company ByteDance.
Microsoft was considered the lead contender in the race to buy TikTok after United States President Donald Trump made an executive order banning the social media platform unless it was sold.
TikTok features 15-second videos of users mostly lip syncing, dancing and performing comedic skits and the app’s popularity has soared during the COVID-19 pandemic with more than 2 billion downloads globally and an an estimated 1.6 million users in Australia.
Microsoft posted a statement on its website stating that ByteDance had let Microsoft know it would not be selling TikTok’s US operations to Microsoft.
« We are confident our proposal would have been good for TikTok’s users while protecting national security interests, » the statement said. « To do this, we would have made significant changes to ensure the service met the highest standards for security, privacy, online safety and combating disinformation. »
The top technology stories and reviews delivered weekly. Sign up to The Age’s newsletter here and The Sydney Morning Herald’s here.
Cara is the small business editor for The Age and The Sydney Morning Herald based in Melbourne
TikTok, ByteDance, Microsoft Corporation, Donald Trump, Oracle Corporation
Actu monde – AU – Microsoft’s offer to buy TikTok rejected