Investor deal is a ‘new TikTok US joint venture’

The seemingly never-ending story of TikTok and its place in the US could be coming to an end. A new deal between TikTok’s parent company ByteDance and US investors allows the social platform to continue operating in the country. Reports from CNBC say that TikTok has signed an agreement to create a new US joint venture. The arrangement involves a number of big investors, and the resulting entity is known as TikTok USDS Joint Venture LLC. In a memo sent to employees, ByteDance CEO Shou Zi Chew reveals that the new joint venture will be “majority owned by American investors,… [Continue Reading]