Here’s Who Just Bought TikTok
The New York Times • • business
Key Points:
- ByteDance has spun out an American venture to operate TikTok in the U.S. to comply with a 2024 federal law addressing national security concerns related to the app’s ties to Beijing.
- In the new arrangement, non-Chinese investors will own about 80% of the U.S. TikTok venture, while ByteDance retains a 19.9% stake.
- The U.S. entity will license TikTok’s recommendation algorithm from ByteDance and will have authority over content moderation on the app.
- Oracle, a major cloud computing and database software company, is one of the key non-Chinese investors involved in the U.S. TikTok venture.
