
General Atlantic, Sequoia Capital Are Key Drivers in Oracle Bid for TikTok - Leary
https://www.wsj.com/articles/general-atlantic-sequoia-capital-are-key-drivers-in-oracle-bid-for-tiktok-11598310734
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Leary
New info revealed by article:

"The investment firms, which own large stakes in Beijing-based ByteDance Ltd.,
are key drivers behind a possible bid for TikTok by a group including Oracle
Corp."

"Microsoft had said it might invite some U.S. investors to join its bid. But
more recently Sequoia and General Atlantic grew concerned that they wouldn’t
have a place in a Microsoft deal and looked for another potential tech partner
that could give them a piece of the action, some of the people said. "

"Bidders have been asked to submit offers by the end of the week, and one of
the parties could enter exclusive negotiations soon, according to people
familiar with the matter. "

"TikTok representatives have engaged with other companies about potential
involvement in a bid. They approached Netflix Inc. to gauge its interest in a
deal, people familiar with those discussions said, but the video-streaming
giant passed, one of them said."

"Zhang Yiming, ByteDance’s founder and chief executive, favors Microsoft, said
people familiar with his thinking."

