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In the communication, CEO Shou Zi Chew confirmed to employees that ByteDance and TikTok signed the binding agreements with three major investors — Oracle, Silver Lake and MGX — to form a "new TikTok U.S." joint venture, ensuring the popular social video platform can continue operating in the United States.
The deal is expected to close on Jan. 22,
apnews.com
The deal is expected to close on Jan. 22,
TikTok signs deal to form new US unit with investors, including Oracle, Silver Lake
TikTok has signed a deal to form a new U.S. unit with three American investors — Oracle, Silver Lake and MGX — holding a majority stake.
apnews.com
