- Oracle Corporation is currently working with investors like Walmart and Sequoia Capital to invest in TikTok global which together will make a 20% stake in the company.
- Oracle plans to hold a 12.5% stake in TikTok global business.
- While the rest of the stakes will behold by TikTok parent company Bytedance.
The world’s leading technology company Oracle Corporation is working with investors like Walmart and Sequoia Capital to invest which will make 20% stakes in TikTok global business.
While Oracle Corporation plans to take 12.5% stakes out of 20% in TikTok global business from its parent company Bytedance. Rest of the stakes will behold by TikTok parent Bytedance.
Earlier, US President Donald Trump threatened TikTok parent Bytedance to sell its US operation to the US company to prevent a permanent ban in the country. Since then Bytedance was in talks with many US tech companies and ended up with Oracle Corporation for the acquisition of its US operations.
Oracle Corporation CEO, Larry Ellison said, “The main reason Oracle chose TikTok because TikTok picked Oracle’s new generation 2 cloud infrastructure which is much faster, more reliable, and more secure than the first generation technology currently offered by other cloud providers.”