TikTok has finally put the US uncertainty behind it as it confirms that its US business will be run through a joint venture. This comes after years of speculation on the app's future in America, where there were even discussions of banning the platform altogether.
As part of the deal, ByteDance retains a 19.9% stake in the new entity, with Oracle and other investors holding 15%. However, it's worth noting that the actual control lies not only with these investors but also those like MGX, an Emirati-state owned firm, which has its own share.
The arrangement now sees ByteDance parting ways with a significant portion of TikTok USDS Joint Venture. According to recent reports, Michael Dell and other stakeholders have smaller stakes in the company.
In a statement released earlier this year, TikTok CEO Shou Chew revealed that the app would remain available for American users despite past talk of ban. After months of delay, it seems that deal has been finalized, with investors like Oracle agreeing to ensure its continued availability on U.S. soil.
President Donald Trump recently praised the arrangement, calling it a "great win". The statement reflects his hopes for long-term success and positive memories tied to TikTok users worldwide.
The new joint venture promises several benefits, including protecting user data in an Oracle-based secure cloud environment. According to company officials, retraining of algorithms focusing on user behavior will also be part of the plan, as well as ensuring moderation standards are high.
Moreover, creators could look forward to content still being accessible both within and outside U.S. borders with this joint venture now operational.
In this setup, there's a seven-member board overseeing the arrangement - mostly comprised of Americans. The main figures include Shou Chew as CEO alongside key executives from Oracle and Silver Lake firms involved in investment, such as Kenneth Glueck and Egon Durban respectively.
As part of the deal, ByteDance retains a 19.9% stake in the new entity, with Oracle and other investors holding 15%. However, it's worth noting that the actual control lies not only with these investors but also those like MGX, an Emirati-state owned firm, which has its own share.
The arrangement now sees ByteDance parting ways with a significant portion of TikTok USDS Joint Venture. According to recent reports, Michael Dell and other stakeholders have smaller stakes in the company.
In a statement released earlier this year, TikTok CEO Shou Chew revealed that the app would remain available for American users despite past talk of ban. After months of delay, it seems that deal has been finalized, with investors like Oracle agreeing to ensure its continued availability on U.S. soil.
President Donald Trump recently praised the arrangement, calling it a "great win". The statement reflects his hopes for long-term success and positive memories tied to TikTok users worldwide.
The new joint venture promises several benefits, including protecting user data in an Oracle-based secure cloud environment. According to company officials, retraining of algorithms focusing on user behavior will also be part of the plan, as well as ensuring moderation standards are high.
Moreover, creators could look forward to content still being accessible both within and outside U.S. borders with this joint venture now operational.
In this setup, there's a seven-member board overseeing the arrangement - mostly comprised of Americans. The main figures include Shou Chew as CEO alongside key executives from Oracle and Silver Lake firms involved in investment, such as Kenneth Glueck and Egon Durban respectively.
... feel like a weight's been lifted off their shoulders. Always wondered what would happen to the app here, now we know 
... but I'm still not sure if I'd use it myself, don't really get the appeal of that short video stuff 
... guess some people just love the content creators or something! Anyway, good for them, I suppose. About time they got this joint venture thing sorted out 
it's literally the best thing I've had all week so I was wondering if anyone else has tried it? anyway back to tiktok I feel kinda bad 4 the uncertainty they went thru but now it seems like everything is gonna be alright 
so fingers crossed that this joint venture thingy really works out 
so i was thinking this joint venture thing is a bit suspicious... like how's ByteDance gonna pull the strings with only 19.9% stake? what's up with MGX getting its own share tho? 
still don't know much about Michael Dell's role in all this, but idk if he's just trying to milk it for all it's worth lol... anyway, glad tiktok's gonna stay on us soil i guess 
, so tiktok is finally sorted in the us? like, no more uncertainty about banning it 
. but its interesting to see byte dance retaining a 19.9% stake tho, idk if thats a good thing or bad... 
. i mean, oracle and other investors are involved too, but also theres this emirati-state owned firm mgx with a share lol, dont know how that works 
. anywayz, creators can still make and share content regardless of where they are in the us now 
. theres a new joint venture tho with a 7-member board and all that, hope they do a good job 