TikTok has signed a deal to form a new U.S. unit with three American investors — Oracle, Silver Lake and MGX — holding a majority stake. This ensures the popular…
SAN FRANCISCO(AP) — TikTok has signed agreements with three major investors — Oracle, Silver Lake and MGX — to form a new TikTok U.S. joint venture, ensuring the popular social video platform can continue operating in the United States.
The deal is expected to close on Jan. 22, according to an internal memo seen by The Associated Press. In the communication, CEO Shou Zi Chew confirmed to employees that ByteDance and TikTok signed the binding agreements
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