People said the large-scale investment firm in Beijing-based Bytdance Limited, a group including Oracle Corp, is the key driver behind a possible bid for Tiktok. Oracle Group recently emerged as a possible alternative to Microsoft Corp, which said earlier this month that it was in talks to buy Tikok’s operations in the US and three other countries.
Microsoft said it may invite some US investors to join its bid. But recently Sequoia and General Atlantic’s relationship grew that they would not have a place in the Microsoft deal and would look for another potential tech partner who could give them a piece of the action, some said. They are now pursuing a potential Oracle bid that quickly won public support for President Trump, although some said Microsoft’s negotiations were fluid and outside investors still joined Microsoft’s bid as minority investors Can.
Both Sequoia and General Atlantic hold seats on the Board of ByteDance. Sequoia’s seat is occupied by its China chief Neil Shen, while its efforts to participate in acquisitions in the US are being led by global managing partner Doug Leone. General Atlantic’s effort is led by its chief executive, Bill Ford, who represents his firm on the Board of ByteDance. Investment firms have two points of interest that potentially conflict: their obligation as board members to maximize the bightdance of their prized assets, and to capitalize on their potential by trying to buy into Ticketok in the US Used to be.
There has been pressure on BiteDance to sell the US branch of Teaktok to the White House before the 45-day deadline. 6 The executive order prohibiting the ape is the White House, which the Trump administration says is an economic and national-security threat. For American interests – if it is not sold to American buyers. A subsequent presidential order set a time limit of 90 days to complete any transaction.