TikTok’s Chinese parent company ByteDance has finalized a deal to form a majority American‑owned joint venture called TikTok USDS Joint Venture LLC in a bid to avert a looming U.S. ban on its hugely popular short‑video platform used by over 200 million Americans after years of political and regulatory battles over national security concerns; under the agreement American and global investors including cloud computing giant Oracle private equity group Silver Lake and Abu Dhabi‑based MGX will collectively hold 80.1 % of the new entity while ByteDance retains a 19.9 % stake and the venture will adopt stringent data privacy and cybersecurity measures designed to secure U.S. user data apps and the recommendation algorithm under American control with TikTok’s global CEO Shou Chew named to the board alongside newly appointed U.S. executives and Oracle committed to hosting U.S. data in its secure cloud a move that won approval from both U.S. and Chinese authorities and represents a major milestone in the effort to keep TikTok operating in the United States despite bipartisan scrutiny and previous bans that were temporarily imposed or delayed.
