Joe Biden, the owner of tiktok, is currently considering selling tiktok to Oracle, a US software company. Under pressure from the Trump administration, Joe Biden was going to make a deal to sell the entire video sharing app in the United States. But after Trump's departure from the White House, the Chinese company is thinking anew.
An unnamed source at Joe Biden said: "Joe Biden went to great lengths to meet the demands of the Trump administration. But with the departure of Trump, the decision to sell tiktok has been dropped. Oracle co-founder Larry Ellison was a Trump supporter. Joe Biden thought that if Trump won the election again, a tick-selling deal could be built to build a valuable relationship. But since Biden won the election, the Chinese company has lost interest in the deal.
According to a report in the Wall Street Journal last week, plans to sell tiktok have been put on hold indefinitely. On the other hand, President Biden will review in detail the efforts made during the Trump administration to address the potential security risks of Chinese technology companies. Meanwhile, Joe Biden is looking for new structures to run its activities in the United States. Tiktok is still negotiating after the change of administration.
The principles are set by the government. This included not selling TickTock's original algorithm. Joe Biden was also instructed not to succumb to US pressure. That said, it would set a bad precedent for Chinese companies.
Under pressure from Washington in August last year, Joe Biden tiktok began negotiations to sell the U.S. business. The list of potential buyers included Microsoft and Oracle. At the time, Donald Trump threatened to ban tick ticks in the United States if they did not sell. For this, he tied the time till mid-September.