ORACLE VENTURES BACKS WITHAW COLLECTIVE’S ACQUISITION OF TIKTOK COMPETITOR LIKE: A roundtable of high-profile investors, including TikTok’s former music head Ole Obermann and Oracle’s venture fund, has backed the formation of a new tech company to challenge TikTok’s dominance. Following the recent termination of TikTok’s products by the US government, founded by ex-Snap execs and Palantir veterans, Wanhuard is set to kick off in Silicon Valley with a war chest of $200m from Oracle and its venture fund. The startup aims to produce replicas for watched content and music on TikTok and ByteDance’s Douyin platform, which remain unavailable outside of China following a ban in the US. Wanhuard plans to launch a new platform named Like in May.
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