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TikTok Announces Formation of Joint Venture with Oracle to Continue Operations in US
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In accordance with US President Donald Trump's executive order, TikTok announced the establishment of TikTok USDS Joint Venture, a company aiming to protect US user data, applications, and algorithms through comprehensive data privacy and cybersecurity measures. A consortium led by Silver Lake, Oracle (ORCL.US), and Abu Dhabi's state investment firm will control 45% of this joint venture, while other new investors will hold 5%, affiliates of ByteDance's certain existing investors will hold 30.1%, and ByteDance will retain 19.9%. AAStocks Financial News |
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