Loading ...TikTok signs agreement to create new U.S. joint venture, memo says
- TikTok’s U.S. operations will be housed in a new joint venture, according to a memo sent to employees by CEO Shou Zi Chew.
- The entity is named TikTok USDS Joint Venture LLC.
- As part of the venture, Chew said in the memo that the company has signed agreements with the three managing investors: Oracle, Silver Lake, and Abu Dhabi-based MGX.
China’s ByteDance signs deal to form joint venture to operate TikTok US app
TikTok’s Chinese owner, ByteDance, said Thursday it signed binding agreements with three major investors to form a joint venture to operate TikTok’s U.S. app led by American and global investors in a bid to avoid a U.S. government ban, a significant step toward ending years of uncertainty.
https://finance.yahoo.com/news/chinas-bytedance-signs-deal-form-015244764.html