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The new TikTok USDS Joint Venture LLC has been created, and a new US-based algorithm will be put into place, which leave users with the choice to stick around or find an alternative.
The TikTok joint venture deal has been made
On December 18, an agreement was finally made between US investors and ByteDance to bring TikTok within the requirements set by the Protecting Americans from Foreign Adversary Controlled Applications law. Oracle, Silver Lake, and Abu Dhabi state-run MGX will own portions of TikTok, and ByteDance will keep only 19.9% starting today.
A press release from TikTok confirmed that the deal went through and provided a few additional details about the new joint venture. Notably, they’ve confirmed that US users will still have access to TikTok globally.
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