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Oracle wants to buy TikTok’s U.S. business, too, report claims

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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