Oracle has won the bid for TikTok’s U.S. assets after Microsoft’s offer came up short. Earlier today the news came straight from the Bill Gates-led company and social media started to run scared that the acquisition wouldn’t happen. However, the tech giant swooped in and managed to make it happen before time expired according to the Wall Street Journal. President Donald Trump wanted the Chinese company to sell it’s U.S. operations to a United States company, and it looks like he got his wish. However, there was a lot of discussion about the algorithm processes being sold as well. There was a report earlier this week that said China would rather not sell it at all if it meant surrendering the technology. Somehow this deal came together despite all the consternation surrounding this issue over the last month or so. Users have to be thrilled that they keep getting to consume their favorite content.
“ByteDance let us know today they would not be selling TikTok’s U.S. operations to Microsoft. We are confident our proposal would have been good for TikTok’s users, while protecting national security interests,” Microsoft said on its corporate blog. “To do this, we would have made significant changes to ensure the service met the highest standards for security, privacy, online safety and combatting disinformation, and we made these principles clear in our August statement. We look forward to seeing how the services evolves in these important areas,”
Comicbook.com’s Kofi Outlaw talked about their maneuvering just a few days ago and recorded some of The White House’s concerns around the app.
Outlaw explained, “Additional reporting seems to indicate that ByteDance is disputing ever having had plans of shutting down TikTok in the US or other markets; meanwhile, China was reportedly willing to delay any sale that ByteDance reached a deal on. Though Chinese officials are not commenting on any such actions at this time. China's foreign ministry spokesman addressed the matter during a regular press conference on Friday, claiming that the US was "abusing the concept of national security," with a call for America to stop "oppressing foreign companies."
“President Trump issued executive orders banning TikTok this summer. Specifically, the order makes it illegal for US companies to do business with ByteDance, though the reasoning for that has been called into question,” he continued. “The Trump administration has cited suspicious or unsecured user data collection practices by the Chinese company, with Trump stating that TikTok's ‘data collection threatens to allow the Chinese Communist Party access to Americans’ personal and proprietary information — potentially allowing China to track the locations of Federal employees and contractors, build dossiers of personal information for blackmail, and conduct corporate espionage.’”
Are you happy to see TikTok sold? Let us know in the comments!