Bytedance, Tiktok Signed Deals With Oracle, Silver Lake, MGX, To Form New Tiktok U.S. JV, Memo Shows
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ByteDance and TikTok have signed agreements with Oracle, Silver Lake, and MGX to form a new U.S. joint venture named TikTok USDS Joint Venture LLC. This venture will handle U.S. data protection, algorithm security, content moderation, and software assurance. The joint venture will be 50% owned by new investors, 30.1% by existing ByteDance investors, and 19.9% by ByteDance. It will operate independently and the transaction is expected to complete within 120 days.
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