TikTok Finalizes US Joint Venture Deal to Avoid Ban, Protect Data

TikTok's US Joint Venture Deal

• 🤝 ByteDance, TikTok's parent company, has finalized a deal to create a new, majority American-owned joint venture.
• 🛡️ This venture is designed to protect US user data and avoid a potential ban on the app in the United States.

Political Approval and Support

• ✅ The deal has been approved by both the US and Chinese governments.
• 🗣️ Former President Donald Trump expressed happiness with the deal, crediting himself for helping to save TikTok.
• 🤝 Trump also thanked Chinese President Xi Jinping for working with the US on the agreement.

Structure and Data Security

• 📊 The new TikTok USDS joint venture will be responsible for securing US data and managing the app's recommendation algorithm.
• 🔒 Under the agreement, American and global investors will own 80.1% of the venture, while ByteDance retains the remaining share.
• ☁️ Oracle, Silver Lake, and MGX will serve as managing investors, each holding 15%.
• 💻 The venture will use only US data, secured on Oracle's cloud system, and retain TikTok's algorithm.