This makes Oracle a potential competitor to Microsoft in its bid to acquire the popular Chinese-owned short video app, the Financial Times reported, citing people familiar with the matter.
Oracle was working with some American investors who already had a stake in ByteDance, including General Atlantic and Sequoia Capital.
The Financial Times notes that Oracle co-founder Larry Ellison is one of the few US technology executives who have publicly supported US President Donald Trump.
US President Donald Trump ordered ByteDance to separate the app’s business activity in the United States within 90 days.
Microsoft has emerged as the first candidate to buy the app’s business in the United States, while media reports indicate that a number of other companies have joined the battle, including Twitter, but it has been said that there are serious concerns about its financial ability to deal.
Microsoft or any other company that buys TikTok needs to audit all code, servers, business contracts, processes, and employees before making any material changes.
The newspaper said that Microsoft is particularly interested in buying TikTok in Europe and India, as the Indian government recently banned it after border tensions with China.
But “BitDance” opposes the idea of selling any assets other than those in the United States, Canada, Australia and New Zealand, according to the report.
While there is no specific assessment of the Chinese company, the success of TikTok has propelled it to become the most valuable startup in the world in 2018.