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Chinese “Byte Dance, I won’t give you the source code”
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On the 14th, China’s state broadcaster CGTN reported, citing sources, that Bytedance will not sell its TikTok video-sharing app in the United States to both Microsoft (MS) and Oracle, and will not provide the source code to buyers. Americans.
Prior to this, the Wall Street Journal (WSJ) said on the 13th (local time) that Oracle is taking the lead in the sale of TikTok and that Oracle will announce that it has been selected as the ‘trusted technology partner’ of TikTok. Reuters and Bloomberg News also cited multiple sources, reporting that Oracle had won TikTok’s acquisition of the US business. However, on the same day, CGTN quoted a source as saying that Byte Dance will not sell its US business to Oracle.
Previously, US President Donald Trump signed an executive order that concludes TikTok business sale negotiations in the US by the 15th and consequently the acquisition of TikTok should conclude negotiations of sale for this day and complete the contract on the 20th. If the sale of the TikTok business in the US is broken, the use of TikTok will be prohibited from the 29th.
In the market, it is assessed that Oracle has become a dominant take on the US division of TikTok, and it is analyzed that the two governments cannot approve the sale or exclude the possibility of major changes due to the result of a battle of technical hegemony between the Trump administration and Xi Jinping’s Chinese leadership. It is elevated.
Until now, the TikTok acquisition was a two-way battle between the MS consortium and the Oracle consortium. Twitter, a social media company that showed an interest in acquiring TikTok, has shied away from influential candidates in the medium due to insufficient funding.
When Oracle challenged to acquire TikTok, Microsoft had an advantage in the market. By the end of the first half of the year, Microsoft had more than three times more cash than Oracle’s, allowing Microsoft to consider a plan to acquire the entire TikTok business unit outside of the U.S. It also has extensive B2C business experience. Microsoft has formed a strong consortium with Wal-Mart and others. / Lee Hyun-ho · Kim Yeon Ha-ja [email protected]
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