E-commerce expert and founding partner of RMG Media Ryan Gellis on how TikTok has selected Oracle over Microsoft to be their corporate partner in the US.
A source within Microsoft told the NY Times yesterday that TikTok has chosen Oracle for its US operations over Microsoft's offer. TikTok’s popularity has been rising rapidly in the last two years. Parent company ByteDance, founded in 2012, has raised billions of dollars in funding reaching a valuation of $100 billion according to PitchBook.
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Oracle, much like Microsoft, is primarily an enterprise software and data company that seeks to modernize itself to stay relevant in today’s evolving technology marketplace. TikTok’s value to Oracle lies in advertising space and user data, especially for the prized millennial and generation Z demographic. The question is whether Oracle can capitalize properly on TikTok.
Ryan Gellis also notes the following points/questions
- Ten years ago Fox bought MySpace, which at the time was the biggest social media platform in the world--and proceeded to run it into the ground. Can Oracle avoid the same mistakes?
- YouTube is rolling out a product called Shorts and testing it in India to compete with TikTok.
- Will Oracle be able to set up strategies that target a new market for them - millennials and generation Z?
Do you agree with Trump's big move on TikTok? Will the company have a successful future? Or is it just a fad which will burn out over time? Tell us by sounding off in the comments section below.