To keep business in the United States afloat, President Trump hung his sword over TikTok to hand over ownership by September 15th. Oracle, Raghav-Boals like Microsoft were also involved in the race to acquire ownership of TikTok. However, TikTok’s ownership of BitDance, they came at the last minute and ruled out the possibility of Microsoft. And that’s when the oracle’s fate was shattered by the sound of sniffing.
TikTok is the most popular medium for short video sharing. TikTok’s advanced algorithm makes it easy to understand exactly what kind of video the user wants to watch. This is why the Chinese company ByteDance quickly became the most valuable startup in the world. However, the US authorities have been opposing it from the beginning, citing possible information smuggling. In the end, the U.S. administration issued a final ultimatum to TikTok to change hands.
Beijing, meanwhile, identified the incident as a US aggression. Beijing has called for the US administration to use “another trick” to prevent it from losing control of the technology world. So, ByteDance’s video sharing app suddenly became the new focal point of geopolitical diplomacy.
Oracle, Sequoia Capital, General Atlantic, etc. are currently involved in the race to acquire this hugely popular app, which has been downloaded 200 million times worldwide. But even if it sells shares to a US company, ByteDance will not sell or transfer the invaluable algorithm of TikTok, according to the South-China Morning Post.
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