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TikTok’s Ownership Shift: What You Need to Know
TikTok, the hugely popular social media app, is undergoing significant changes that could reshape its ownership structure in the United States. According to recent reports from The Wall Street Journal, a new deal is in the works, which aims to finalize arrangements between the US and China regarding the app’s operation in America.
Key Details of the Agreement
The current plan indicates that TikTok’s US operations will soon be primarily owned by a coalition of American investors. This group will hold about 80% of the company, including established partners like Oracle and investment firms such as Andreessen Horowitz and Silver Lake. Importantly, this deal ensures that Chinese shareholders maintain a minor interest, keeping their stake below the 20% legal threshold.
Additionally, the US government is expected to appoint one board member to manage the “American-dominated” structure of the new ownership model. Reports have surfaced over the past months, with Trump previously hinting at a swift resolution to the negotiations.
Algorithm Transition and Data Security
While the negotiations are progressing, it was confirmed that TikTok engineers are working to develop a new algorithm for the app by licensing technology from Bytedance. Oracle has been tasked with overseeing user data in the US, aligning with their longstanding partnership on data security matters.
Despite the advancements in negotiations, President Trump has expressed the need for additional time, extending the deadline for a deal to be finalized once more. He has indicated that a conversation with Chinese President Xi Jinping is forthcoming to “confirm everything.”
In Conclusion
As TikTok navigates this transitional phase, users and investors alike await further developments. The deal, if finalized, could lead to a transformative chapter in the platform’s history, reinforcing its commitment to secure user data and mitigate concerns surrounding its Chinese roots.
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