image sourced from original article at TikTok has reached an agreement to sell its United States operations to a new joint venture led by American investors, ending a prolonged period of security disputes with Washington. The deal, set to close on January 22, will see Oracle, Silver Lake, and MGX collectively holding a significant stake, while ByteDance and its affiliates retain a minority share.
The new company, TikTok USDS Joint Venture LLC, will oversee all aspects of data protection, content moderation, and algorithm security for American users. A 'trusted security partner,' identified as Oracle, will audit and ensure compliance with national security requirements.
This agreement follows years of pressure from United States lawmakers and presidents, who raised concerns about the app's Chinese ownership and potential risks to user data. The resolution comes after legislative and executive actions threatened to ban TikTok unless its United States assets were divested.
