TikTok dodges US ban with last-minute deal
Just in time, ByteDance struck a deal to keep TikTok running in the US, sidestepping a looming ban over national security worries.
Now, a new joint venture—majority-owned by American investors, including Oracle and Silver Lake, who collectively own more than 80%—will run TikTok's US side.
ByteDance keeps less than 20%, and Adam Presser steps in as CEO.
Over 200 million American users get to keep scrolling.
What's changing behind the scenes?
To calm fears about data privacy and foreign influence, TikTok's US user info will now be stored on Oracle's secure cloud.
The app's algorithm will be retrained, tested and updated using US user data, with American owners involved in decisions about how it gets used.
ByteDance still handles ads and e-commerce globally.
Why does this matter?
This wraps up about five and a half years of tense back-and-forth between the US and China over TikTok's future.
While lawmakers aren't totally convinced all concerns are solved, for now, your For You Page is safe—and that endless scroll isn't going anywhere.