TikTok Sets Up US JV With China's ByteDance Owning Largest Single Stake
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TikTok has launched TikTok USDS Joint Venture, with its parent company ByteDance holding a 19.9% stake. This new venture will manage local operations for TikTok in the US, allowing 200 million users and 7.5 million businesses to continue using the platform. A US-majority board will oversee the JV, while ByteDance retains control over global product interoperability and commercial activities. Oracle, Silver Lake, and MGX are managing investors, each with a 15% stake, alongside other investors. TikTok's US arm will maintain global content connectivity and oversee e-commerce and advertising operations.
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