With Oracle Finally winning the TikTok deal, a lot is in store for the face of marketing in the US
In the bidding of the U.S. operations of TikTok, the short video service owned by China-based ByteDance, Oracle has beaten Microsoft to grab the deal. This news was reported by The Wall Street Journal on Sunday afternoon. This deal is being reviewed by the U.S. Government said Treasury Secretary Steven Mnuchin on Monday on CNBC.
Microsoft had partnered with Walmart on its bid, Walmart said that they are still interested in this deal. As reported, Oracle has been working with the investment firms General Atlantic and Sequoia Capital for its own offer. Details of the deals are not yet clear; whether Oracle will take over the U.S. operations of TikTok or will it be a TikTok’s “trusted tech partner” in the U.S.
President Donald Trump had earlier threatened to close operations of TikTok in the United States over security concerns unless ByteDance sold the unit to an American buyer.
Oracle stock has gained 8.8% in premarket trading, while stocks of Microsoft declined 0.1%, and Walmart has fallen 0.5%.
MartechCube’s Take on Oracle TikTok Deal
While the details of the deal are yet to come out and it is still not clear whether this deal will help TikTok in escaping the ban, but this deal has become the talk of the town and everyone is trying to draw out their image on how will the deal look like and what impacts it might have. We here at Martech Cube won’t predict how the deal will look like or what will be its impacts, we will just try to put light on the concerns that are expected to be resolved by this deal.
Data protection was the primary reason behind the U.S. Government planning to ban TikTok, Oracle taking over the U.S. operations will ensure that the data of the U.S. citizens will be safe and will stay in the country itself. It will also give an assurity to the U.S. government and citizens that the data is not being shared with the government of any other country that might affect their interest. It will also guarantee that all the norms of CCPA compliance are fulfilled and help TikTok in gaining more trust in its users in the United States. This deal also acts as a template for the countries that have or were planning to ban TikTok or any other platform because of data security issues.
For more such Updates follow us on Google News Martech News
ABOUT THE AUTHOR
Chandrima is a Content management executive with a flair for creating high quality content irrespective of genre. She believes in crafting stories irrespective of genre and bringing them to a creative form. Prior to working for MartechCube she was a Business Analyst with Capgemini.