"A number of investors competed to purchase the app, and after Trump extended the TikTok ban deadline for the fourth time, the battle is finally over. As of last week, TikTok officially signed a deal to divest a portion of its U.S. entity to a group of American investors. This comes nearly three months after President Donald Trump signed an executive order that approves the sale of TikTok's U.S. operations to an American investor group."
"According to a memo viewed by TechCrunch, the investor group consists of Oracle, private equity firm Silver Lake, and investment firm MGX. Collectively, they will hold 45% of the U.S. operation, with ByteDance keeping nearly a 20% stake. Axios first reported the news, citing sources who estimate TikTok U.S. is valued at approximately $14 billion-a figure also mentioned by Vice President JD Vance."
TikTok, owned by ByteDance, faced four years of U.S. controversy over potential Chinese government access to user data. The app experienced a temporary U.S. outage earlier this year and returned to the App Store and Google Play Store in February. Multiple investors competed to acquire the U.S. operations, and a deal was signed to divest part of TikTok U.S. to American investors following an extended ban deadline and an executive order approving the sale. The investor consortium—Oracle, Silver Lake, and MGX—will hold 45% of TikTok U.S., while ByteDance will retain nearly a 20% stake, with the U.S. unit valued around $14 billion.
Read at TechCrunch
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