Oracle wants to buy TikTok's U.S. business, too, report claims
Oracle is joining the race to acquire TikTok's U.S. operations, the Financial Times and Bloomberg reported Monday.
It's a bit of an odd fit, given Oracle is primarily a B2B company that sells database software, and TikTok is a cheery video app aimed at the younger generation. However, Oracle certainly has the financial clout to pull it off; the company had more than $37 billion in cash and cash equivalents at the end of fiscal Q4 in 2020.
TikTok's parent company ByteDance hasn't advertised a price for the social app, but Bloomberg says analysts have placed it somewhere between $20 and $50 billion. Read more...
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Oracle wants to buy TikTok's U.S. business, too, report claims
Reviewed by mimisabreena
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Tuesday, August 18, 2020
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Reviewed by mimisabreena
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Tuesday, August 18, 2020
Rating:
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