ByteDance Rejects Microsoft’s TikTok Bid
In an official brief statement on Sunday, Microsoft confirmed that TikTok’s parent company, ByteDance rejected its bid to acquire the short video-sharing app operations in the United States. This acquisition would allow Microsoft to own and operate TikTok service in the United States, New Zealand, Canada and Australia.
In the statement, Microsft revealed that it would have made significant changes to the way TikTok deals with security, privacy and online safety of users in a way that it could have been good to American TikTok users while protecting national security interests.
In the official blog post, Microsoft says, “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.”
Following Microsoft’s rejected bid to acquire TikTok US operations, Oracle was also reported to be holding talks with ByteDance, showing interest in acquiring the video-sharing app. The Wall Street Journal on Monday reported that Oracle would shortly be announced as TikTok’s “trusted tech partner” and that the video-sharing platform’s sale would not exactly be structured as an acquisition.
“Oracle is set to be announced as TikTok’s ‘trusted tech partner’ in the U.S., and the deal is likely not to be structured as an outright sale.”
This said it’s still not clear what will happen to TikTok in the US now that Microsoft has been unsuccessful in its bid though Oracle looks like the most likely candidate to acquire TikTok operations in the US. Neither ByteDance nor Oracle have released an official statement on the matter.