After multiple delays surrounding the sale of TikTok, President Donald Trump announced in an interview on Sunday that a potential buyer for the social media app has been identified. Although the president did not specify the names of the interested parties, reports indicate that the prospective buyers include major companies Oracle and Blackstone, along with venture capital firm Andreessen Horowitz (a16z).
Previously, this same group of investors had put forward a bid for the ByteDance-owned platform. However, progress on the deal had stalled amidst escalating tensions between the United States and China, stemming largely from President Trump’s trade policies and tariff proposals.
Oracle’s involvement in talks for TikTok’s acquisition is underpinned by its existing partnership through the “Project Texas” initiative, a framework geared toward ensuring TikTok’s user data from the United States is securely stored within U.S. borders.
