TikTok has rejected Microsoft’s offer to purchase the social media company.
Microsoft said on Sunday evening that TikTok would not be accepting its offer.
The decision left Oracle as the only potential buyer standing.
Although Microsoft has accepted the loss, it believes it had something good to offer TikTokers.
It also said that the offer would protect the current concern for national safety.
The statement went further to point out the sort of changes it had in mind to make.
For example, security, online privacy, stopping fake information were on Microsoft’s list.
Anyway, they look forward to seeing how ByteDance would solve these issues.
On our part, we are yet to see a genuine reason as to why Microsoft was rejected.
ALSO READ: TikTok Would Much Rather Shut Down its U.S Operations than Sell Out
Oracle will most likely emerge buyer
Before TikTok decided to partner with Oracle, a few ByteDance investors were already in support.
So, it’s possible Oracle already had a chance.
The Trump administration was also in support of the sale to Oracle.
Trump is in support because Oracle has a good relationship with his administration.
According to The New York Times, Oracle is now the official technology partner of ByteDance.
Unpredictable TikTok
However, TikTok has decided not to sell out at all.
The decision is not in-line with the executive order given by Trump.
The company’s decision when the deadline for its sell-out is close is questionable.
Also, the Chinese government issued a regulation to restrict the exportation of all Chinese AI tech.
This, of course, includes TikTok’s very much wanted “For You” algorithm.
Before TikTok’s decision not to sell out, they were in negotiations with the Trump administration.
The company tried to make a deal for not selling out completely.
The American government is bent on ensuring that TikTok sells out.
Trump feels that TikTok is secretly stealing data from Americans and sending it to China.
TikTok, however, denied the allegations.
ALSO READ: TikTok Just Might Have Gotten Lucky: They Company Might Not Sell Out After All
TikTok rejecting Microsoft: Good or bad idea?
From Microsoft’s statement, you can sense it feels TikTok made a mistake.
Microsoft believed it had so much to offer TikTok.
Maybe it’s unhappy because it lost, or perhaps it is right.
No other potential buyer gave a detailed plan on changes in how TikTok is currently being run.
With TikTok’s off and on decision making, we don’t know if this will stand.
We have no other option than to wait and see what happens next.
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