Oracle lands TikTok as reference cloud customer, takes 12.5% stake
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Oracle said it will be TikTok’s cloud provider in a deal that gives it a 12.5% stake in the social media network and a key reference customer.
In a statement, Oracle said “the technical decision” by TikTok was based on the Zoom reference account. However, TikTok, owned by Bytedance, was facing a Sunday shutdown order over security concerns by President Trump. Trump said he approved the deal earlier Saturday.
Oracle CTO Larry Ellison said that TikTok will run on Oracle Cloud. CEO Safra Catz said:
Oracle will quickly deploy, rapidly scale, and operate TikTok systems in the Oracle Cloud. We are a hundred percent confident in our ability to deliver a highly secure environment to TikTok and ensure data privacy to TikTok’s American users, and users throughout the world.
For Oracle, the cloud deal with TikTok is a win and can give it a higher profile.
More:
- With TikTok, Oracle hopes its cloud infrastructure business goes viral
- ByteDance won’t allow TikTok’s algorithm to be part of a sale; Microsoft is rejected as suitor
- US Commerce Department to ban TikTok and WeChat downloads starting Sept. 20
Article source: https://www.zdnet.com/article/oracle-lands-tiktok-as-reference-cloud-customer-takes-12-5-stake/#ftag=RSSbaffb68