Oracle, which doesn’t have a consumer-facing business at the moment, may use TikTok to prop up its ads business.
President Donald Trump endorsed Oracle’s rumored bid to acquire TikTok’s operations in the U.S., Canada, Australia and New Zealand, calling it “a great company” while expressing support for the company’s billionaire co-founder Larry Ellison, who is also a donor to Trump’s campaign.KEY FACTS
Speaking at an event in Arizona, Trump said, “ I think Oracle is a great company, and I think its owner is a tremendous guy. He’s a tremendous person. I think that Oracle would be certainly somebody that could handle it.” Oracle co-founder and CTO Larry Ellison is one of the few tech industry executives who have openly expressed support for Trump’s reelection campaign.a fundraiser for Trump’s campaign where supporters could pay $100,000 for a golf outing and photo op with the president, an event that led to protests by Oracle employees.
While endorsing Oracle, Trump reiterated that the companies have until September 15 to complete the deal, however, theOracle’s planned bid for TikTok also involves venture capital firms Sequoia Capital and General Atlantic, both of whom are investors in TikTok’s parent ByteDance.Oracle’s bid to acquire TikTok has raised some questions about why the software company known primarily for its database programs would be interested in buying a video sharing app popular with teenagers.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Trump supports a TikTok acquisition by Oracle, whose chairman is a major donor - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Read more »
Oracle Enters Race To Buy TikTok – ReportsU.S. software giant Oracle has become the latest company to enter the mix to acquire social media platform TikTok from Chinese outfit ByteDance, according to multiple reports. CNBC is saying that O…
Read more »