The Chinese video-sharing social media platform TikTok, after facing a country-wide ban in India has met its fate in the United States too. Earlier this month, the Trump administration passed an executive order to ban the TikTok in the country unless it ends the ties with its parent company in China. The company is now selling its US operations, and the bidding process is already on.
As per the reports, Oracle has approached the venture capital firm Sequoia Capital for a bid to acquire TikTok. On Tuesday, the US President Donald Trump expressed his support for the Oracle corporation to buy TikTok US operations but it has risen a new controversy. Many allege the corporation is run by the supporters of US President Donald Trump, as the company’s co-founder Larry Ellison voiced his support for him. After the executive order, the company is finding a buyer for its operations in the US. Many companies, including Twitter and Microsoft, have shown interest in buying the app. ByteDance, the parent company of TikTok was facing a deadline of 45 days from Trump administration to find a buyer. However, the Trump administration has now extended the date till November when the US presidential elections are over.
Controversy on Oracle Buying TikTok
According to the reports from international media, the CTO of Oracle Larry Ellison supports Trump for the 2020 US elections. The whole controversy comes after both the parties, Donald Trump and the Oracle corporation expressed support for each other. The business database software company is accused of being run by Trump supporters, which many people don’t seem to like. However, it is true that apart from Ellison, the company’s CEO Safra Catz has also supported the president. Back in 2016 she had joined the Trump’s transition team while still being the CEO of the company.
Many nations have increased the scrutiny on the Chinese apps like TikTok, citing the cybersecurity concerns. The viral video sharing app faced a complete ban in India, along with 50+ other Chinese apps.