ByteDance, the Chinese company that owns the popular video-sharing app TikTok, has tapped Oracle as its U.S. technology partner in a bid to keep its U.S. operations going. So what does that mean for you? Well...
The Oracle announcement comes a week before the Sept. 20 deadline for ByteDance to sell TikTok to an American company or risk being banned because of national security concerns. With its chummy relationship with the Trump administration, Oracle may have the inside track to get a deal done.
Analysts say Oracle will need to make sure that the service retains its hold on users and its influencers. In the U.S., it’s estimated that TikTok has more than 100 million monthly active users. Walmart on Sunday said it is continuing discussions"with ByteDance leadership and other interested parties."
Larry Ellison, Oracle’s co-founder and chairman, has publicly supported Trump and hosted a fundraiser for Trump’s reelection campaign in February. CEO Safra Catz was part of the president’s transition team.
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