Rumors have been flying around for weeks about who could be the new owner of TikTok U.S.A. from Microsoft to Twitter to Facebook and Snap. Late yesterday it was reported by CNBC that Oracle has thrown their hat into the ring.
CNBC confirmed late yesterday that Oracle, the enterprise software giant, is in talks to acquire social media company TikTok’s U.S., Canadian, Australian and New Zealand assets, according to a person familiar with the matter.
Oracle is working with a group of U.S. venture capital firms that already have a stake in TikTok, said the person, who asked not to be named because the negotiations are private. The Financial Times earlier reported on the talks and named General Atlantic and Sequoia Capital as two of the investors working with Oracle.
Oracle’s talks to acquire TikTok’s operations in four countries are ongoing and have accelerated in recent days, the person said, and it and Microsoft are far ahead of any other companies that have expressed interest.
While Microsoft has been working with the U.S. government to acquire TikTok’s assets for more than a month, Oracle’s co-founder and executive chairman Larry Ellison has expressed his support for President Donald Trump, whose administration has vowed to ban TikTok in the United States if Chinese owner ByteDance does not divest its U.S. operations by November. Ellison threw a campaign fundraising event for Trump earlier this year.