Oracle — yes, Oracle — is now a potential acquirer of TikTok.
The Financial Times, CNBC, and Reuters reported that the Redwood City, Calif.-based tech giant is in talks to buy the popular social video app’s operations in the U.S., Canada, Australia, and New Zealand. Update, 2:22 p.m. PT: Trump confirmed that Oracle is pursuing an acquisition.
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Oracle joins Microsoft in the race to buy TikTok after President Trump signed an executive order demanding the app’s owner, China-based ByteDance, to sell off or spin out its TikTok business in the U.S. within 90 days.
Oracle might seem like an unlikely candidate given its focus on enterprise software and lack of social media market share, but it’s worth noting that co-founder and executive chairman Larry Ellison is a Trump supporter. The acquisition could also help the company’s advertising and data business, The Guardian noted. Oracle is reportedly working with TikTok’s existing U.S. investors, including General Atlantic and Sequoia Capital.
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