By David Shepardson, Reuters
Photo: AFP / Jaap Arriens
Majority American-owned joint venture will secure data
Oracle, Silver Lake, MGX to hold 15 percent each in TikTok USDS JV
ByteDance retains 19.9 percent ownership
TikTok's Chinese owner, ByteDance, says it has finalised a deal to establish a majority American-owned joint venture that will secure US data, to avoid a US ban on the short video app used by over 200 million Americans.
The deal announced on Thursday (local time) is a milestone for the social media firm after years of battles that began in August 2020 whe
Continue Reading on RNZ
This preview shows approximately 15% of the article. Read the full story on the publisher's website to support quality journalism.