"As reported by CNBC, TikTok CEO Shou Zi Chew has sent an email to staff notifying them of the deal, which will come into effect on January 22nd, a day before the expiry of President Trump's fourth Executive Order to withhold enforcement of the "Protecting Americans from Foreign Adversary Controlled Applications Act.""
"TikTok CEO Shou Zi Chew told employees on Thursday that the company's U.S. operations will be housed in a new joint venture named "TikTok USDS Joint Venture LLC". As part of the joint venture, Chew said the company has signed agreements with the three managing investors: Oracle, Silver Lake, and Abu Dhabi-based MGX."
""According to Chew's announcement, the new TikTok US entity will be responsible for "re-training" the algorithm on U.S. user data, " to ensure the content feed is free from outside manipulation. ""
A deal will take effect on January 22, one day before the expiry of President Trump's fourth Executive Order withholding enforcement of the "Protecting Americans from Foreign Adversary Controlled Applications Act." U.S. operations will be housed in a new joint venture named TikTok USDS Joint Venture LLC. Agreements have been signed with three managing investors: Oracle, Silver Lake, and Abu Dhabi-based MGX. The new TikTok US entity will retrain the recommendation algorithm on U.S. user data to ensure the content feed is free from outside manipulation.
Read at Social Media Today
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