Microsoft is reportedly facing a new competition for Chinese-owned short video platform TikTok after enterprise software company Oracle showed considerable interest in obtaining the platform. Oracle is the world’s second-largest software company after Microsoft.
Oracle’s bid for the short-form video company is said to be serious, and the company may have a number of advantages over its rival when it comes to pulling off an acquisition.
According to a report by Financial Times, Oracle is already in talks with ByteDance and has partnered with venture capital firms like General Atlantic and Sequoia Capital. As per the report, Oracle is “seriously considering” buying TikTok’s business not just in the US but also TikTok’s Canada, New Zealand and Australia arms as well.
Apart from Oracle, social media company Twitter reportedly showed interest in buying TikTok but the report states that there are “serious concerns” as to whether Twitter can actually afford the deal, given its financial situation.
In addition, Oracle’s interest in buying TikTok comes at a time when reports claim that the Microsoft-TikTok deal may not happen eventually.