ByteDance might still own TikTok US after Oracle investment — so what’s the point?
The TikTok acquisition saga is one of the most exhausting and confusing tales in tech business right now. A month ago, Microsoft was favorite to gobble up the short video app. Earlier this week, after ByteDance rejected the Seattle-based company’s bid, Oracle was leading the pack to go ahead with the deal. However, a report from the Financial Times suggests that Oracle might end up owning just a minority state in the company. This is what the company meant when it said that it’ll be a “trusted technology partner” in TikTok’s US operations. More importantly, the FT report notes that…
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