Bytedance opts for partnership with Oracle for TikTok in US instead of outright sale

If media reports are to go by, Bytedance has decided against an outright sale of its immensely popular short video platform TikTok in the US. Instead it is opting for a tech partnership with Oracle Corp to avoid cessation of the platform’s operations in the US, following Trump Government’s plan to ban TikTok over national security concerns.

A Reuters’ report, quoting sources, has stated that Bytedance is against handing the source code for TikTok to any buyers in the US. Media reports have earlier stated that Microsoft Corp and Oracle Corp have been competing for the TikTok buyout in the US.

The Washington Post has reported that TikTok’s proposal to the Trump government stated that parent company would outsource cloud management of the platform’s data, while holding on to the platform’s ownership.

Microsoft was in the race for the bid and had even joined hands with Walmart for the bid. In an official statement issued, Mircosoft said, “ByteDance let us know today they would not be selling TikTok’s US operations to Microsoft. We are confident our proposal would have been good for TikTok’s users, while protecting national security interests. 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 service evolves in these important areas.”