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- 1 week ago
- President Trump said he has agreed in concept to a deal under which Chinese-owned video-sharing app TikTok will partner with Oracle and Walmart to become a U.S.-based company, capping negotiations that have stirred debate over national security and the future of the internet.
- The Commerce Department would delay a ban on U.S. downloads and updates for the TikTok app. The ban is now set to take effect Sept. 27, but could be further delayed or removed if the proposed new partnership goes forward.
- Oracle would have a 12.5% stake in the new entity called TikTok Global, and would provide secure cloud service for data on the popular app.
- Walmart agreed to purchase 7.5% of TikTok Global as well as entering into commercial agreements to provide e-commerce, fulfillment, payments and other services to the new company.
- TikTok’s current owner, Beijing-based ByteDance Ltd., would retain roughly 80% ownership of the company. But because ByteDance is about 40% owned by U.S. investors, the new company with equity stakes for Oracle and Walmart can be described as having majority American ownership.
- 1 month ago
- Oracle, an enterprise software giant, is in talks to acquire social media company TikTok’s U.S., Canadian, Australian and New Zealand assets.
- Oracle is working with a group of U.S. venture capital firms that already have a stake in TikTok. The Financial Times earlier reported on the talks and named General Atlantic and Sequoia Capital as two of the investors working with Oracle.
- Oracle’s talks to acquire TikTok’s operations in four countries are ongoing and have accelerated in recent days, and it and Microsoft are far ahead of any other companies that have expressed interest.
- Oracle doesn’t have a consumer-facing social media or video business. In theory, Oracle could use customer data collected by TikTok to improve its marketing products, but spending tens of billions to acquire a consumer social media company would be a significant departure for the company.
- 3 months ago
- Tech giant Oracle is one of a few companies in Silicon Valley that has near-perfected the art of tracking people across the internet. The company has spent a decade and billions of dollars buying startups to build its very own panopticon of users’ web browsing data.
- One of those startups, BlueKai, which Oracle bought for a little over $400 million in 2014, is barely known outside marketing circles, but it amassed one of the largest banks of web tracking data outside of the federal government.
- BlueKai uses website cookies and other tracking tech to follow you around the web. By knowing which websites you visit and which emails you open, marketers can use this vast amount of tracking data to infer as much about you as possible — your income, education, political views, and interests to name a few — in order to target you with ads that should match your apparent tastes. If you click, the advertisers make money.