Oracle's bid for Chinese-owned social media app TikTok might not be as crazy as it first seems.
While TikTok may not seem like the most natural fit for Oracle's existing customer base, there could be more to it than that. Abishur Prakash, a geopolitical futurist at a strategy consulting firm called Center for Innovating the Future, said companies want one thing when it comes to TikTok: data.
"In the post-Covid world, every business is trying to reinvent themselves," Prakash added. "And, within geopolitics of tech, there isn't just risks, but also opportunities. Oracle may have its own ideas as to how it could use TikTok that it hasn't revealed to the market yet.
It remains unclear whether ByteDance wants to divest TikTok as a whole or by region. The company is reportedly in talks with Reliance Industries for TikTok in India, and is entertaining multiple bids for TikTok's U.S. assets. Some social media watchers are still struggling to comprehend why Oracle would ever be interested in TikTok.
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