TikTok says the deal to create a US entity has been finalized

Controversial social media platform TikTok appears to have managed to avoid being banned in the US. After months of delays and negotiations, TikTok USDS Joint Venture LLC has been established to comply with US regulatory requirements. The deal sees Chinese owners ByteDance creating a separate American-owned majority venture. ByteDance will retain less than 20 percent ownership, with other investors including Oracle. While the new US venture is, for all intents and purposes, separate to TikTok’s Chinese arm, this does not mean a different experience for users in the US. “Interoperability enables the Joint Venture to provide U.S. users with a… [Continue Reading]