TikTok has finalized an agreement to launch TikTok USDS Joint Venture LLC, a US-based company addressing regulatory concerns.
ByteDance will retain a 19.9% ownership stake, with 80.1% held by American investors. Key managers include Oracle, Silver Lake, and the MGX fund.
The deal extends to CapCut and Lemon8 apps. US user data will be stored in Oracle’s cloud, and the recommendation algorithm trained solely on American user information.
Source: The Verge.
