Update: Market Chatter: Oracle, Existing TikTok Backers Working to Ensure User Data Security Concerns

12:42 PM EDT, 03/21/2025 (MT Newswires) -- (Updates with additional details from the third paragraph onwards.)

Oracle (ORCL) and US investors in TikTok parent ByteDance are working on a deal to assure President Donald Trump that the app operates independently of Chinese control, the Financial Times reported Friday.

Under the plan, existing ByteDance investors, including General Atlantic, Susquehanna, KKR (KKR), and Coatue, aim to increase their stakes in a TikTok US spinoff, while Oracle may take a minority stake and oversee the security of US user data, the report said, citing people familiar with the matter.

ByteDance will likely retain a stake in TikTok's US division, a source told the FT, adding that the deal's structure is still evolving and may involve additional investors.

A US law requires ByteDance to sell TikTok's US unit by April 5. The deal will let ByteDance keep its "highly sought-after," algorithm, while Oracle safeguards US user data, the report said.

Among other bidders, media entrepreneur Frank McCourt and Reddit ( RDDT ) cofounder Alexis Ohanian have formed a consortium to bid for TikTok. Reid Rasner, CEO of wealth management firm Omnivest Financial, has also submitted a bid to the White House, the FT said.

Oracle, KKR, General Atlantic, Susquehanna, KKR, and Coatue didn't immediately respond to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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