The administration of US President Donald Trump is working on a plan to save TikTok that involves tapping software company Oracle and a group of outside investors to effectively take control of the app’s operations, two people with knowledge of the discussions told Reuters.
Under the deal being negotiated by the White House, TikTok’s China-based owner, ByteDance, would retain a stake in the company, but data collection and software updates would be overseen by Oracle, which already provides the foundation of TikTok’s Web infrastructure, one of the sources said.
