Microsoft lost to Oracle in bid to buy TikTok.
“US software giant Oracle beat its rival Microsoft in a bidding war to buy Chinese-owned TikTok’s US operations, according to media reports published on Sunday. Oracle’s victory came after Microsoft said in a statement that TikTok’s parent firm ByteDance informed the Seattle-based company that it would not be selling TikTok’s US operations to Microsoft,” AANews reports.
“We are confident our proposal would have been good for TikTok’s users, while protecting national security interests,” Microsoft said in the statement.”
“Some members of the US Congress also demanded the US Department of Justice open an investigation into TikTok amid data privacy worries.”