'Sequoia Capital, General Atlantic driving Oracle's TikTok bid'

SAN FRANCISCO: Investment firms General Atlantic and Sequoia Capital are driving Cloud major Oracle's potential bid for TikTok which is under pressure to divest its US business, The Wall Street Journal reported.

General Atlantic and Sequoia Capital have large stakes in TikTok's parent ByteDance which is a Chinese unicorn.

These two investment firms are pushing Oracle's potential bid for TikTok as they are concerned that they might miss out on some actions if Microsoft becomes successful in purchasing TikTok's business in the US, said the WSJ report on Monday, citing people familiar with the matter. (IANS)

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