After months of negotiations, TikTok finalized a deal with several US-based investors days before the next deadline, after which TikTok would have allegedly been banned in the US. Today, TikTok was finally divested from ByteDance, which retains a 20% stake, while the other 80% is split between Oracle, Silver Lake, MGX and others. Each of those three companies gets a 15% stake.
Perhaps the most important bit of this deal is that the new joint venture will supposedly protect American users’ data and keep TikTok’s algorithm on US users’ data on its servers. Oracle will be responsible for…
After months of negotiations, TikTok finalized a deal with several US-based investors days before the next deadline, after which TikTok would have allegedly been banned in the US. Today, TikTok was finally divested from ByteDance, which retains a 20% stake, while the other 80% is split between Oracle, Silver Lake, MGX and others. Each of those three companies gets a 15% stake.
Perhaps the most important bit of this deal is that the new joint venture will supposedly protect American users’ data and keep TikTok’s algorithm on US users’ data on its servers. Oracle will be responsible for… Read More GSMArena.com – Latest articles
