Tech industry
fromEngadget
2 months agoTikTok finalizes deal for its US entity
Non-Chinese investors will own 80 percent of TikTok's new US entity while ByteDance retains twenty percent.
According to , TikTok CEO Shou Chew told employees that TikTok and ByteDance had signed off the agreement for control of TikTok's US business. It sounds like terms of the deal are roughly the same as what Trump announced earlier this year. A group of US investors, including Oracle, Silver Lake and MGX will control a majority of the new entity while ByteDance will keep a smaller stake in the venture.