The clock to buy TikTok keeps on ticking.
And odd news like this keeps on trickling.
According to this report, the enterprise database and cloud services company is interested in taking over the US, Canadian, Australian, and New Zealand assets of the social giant. Oracle is said to be working with a group of US venture capital firms that already have a stake in TikTok to see this through.
CNBC says that talks between Oracle and TikTok are not only ongoing, but they have accelerated in recent days. Both Microsoft and Oracle are far ahead of others here.
As to the why of it, it is said that the database giant could be looking at new areas of growth:
“Oracle doesn’t have a consumer-facing social media or video business. In theory, Oracle could use customer data collected by TikTok to improve its marketing products, but spending tens of billions to acquire a consumer social media company would be a significant departure for the company. Oracle has struggled to find new avenues of growth as Amazon Web Services has dominated cloud computing, followed by Microsoft Azure and Google Cloud.”
What new area is better than TikTok, right?
Of course, amidst all this hoopla is US President Donald Trump turning on the heat on potential negotiations with a new executive order that has given ByteDance, the Chinese owner of TikTok, 90 days to divest any data the app has gathered from the United States.
Competing such a titanic transfer in less than 90 days is stuff unheard of.
But then again, with the world that we live in today, you never know. It might just happen.