TikTok reaches deal for new US joint venture to avoid American ban
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TikTok's parent company, ByteDance, has established a majority American-owned joint venture, TikTok USDS Joint Venture LLC, to prevent a U.S. ban on the app. This agreement allows American and global investors, including Oracle and Silver Lake, to own 80.1% of the venture, while ByteDance retains 19.9%. The move aims to enhance data privacy and cybersecurity for U.S. users, following years of regulatory challenges since 2020.
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