Technology giant Oracle is in the box seat to buy TikTok after Microsoft's offer to buy the viral social media platform's US operations was rejected by its Chinese parent company ByteDance | carawaters
TikTok features 15-second videos of users mostly lip syncing, dancing and performing comedic skits and the app's popularity has soared during the COVID-19 pandemic with more than 2 billion downloads globally and an an estimated 1.6 million users in Australia.
Microsoft posted a statement on its website stating that ByteDance had let Microsoft know it would not be selling TikTok's US operations to Microsoft."We are confident our proposal would have been good for TikTok's users while protecting national security interests," the statement said. "To do this, we would have made significant changes to ensure the service met the highest standards for security, privacy, online safety and combating disinformation.
Microsoft said it "looked forward" to seeing how TikTok's service evolved in these "important areas".
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