TikTok and Oracle Could Partner to Avoid US Ban – ResearchAndMarkets.com | Financial Buzz

TikTok and Oracle Could Partner to Avoid US Ban – ResearchAndMarkets.com

ResearchAndMarkets.com published a new article on the social media industry “TikTok and Oracle Could Partner to Avoid US Ban”

TikTok and Oracle might be becoming business partners in the USA, according to CNN, just days before a US ban on TikTok was scheduled to go into effect. The exact nature of the agreement remains unclear; Chinese media said on 14 September that neither Oracle nor its bidding competitor Microsoft would not be allowed to purchase the US operations outright.

TikTok’s popularity exploded in the US and Europe in recent years, with 315 million downloads in just the first three months of 2020, according to analytics company Sensor Tower. Like most social media apps, it collects personal information about its users; unlike most apps, it is owned by the Chinese government, leading US officials to see it as a tool for spying on American citizens. The US government threatened to ban the app outright, saying that its US operations needed to be sold to a US company for security oversight. Reuters described the partnership with Oracle as a way to avoid the ban while appeasing the Chinese government.

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