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TikTok sets up US company to dodge ban

Business

To keep TikTok available for its 170 million US users, ByteDance is creating a new American joint venture called TikTok USDS Joint Venture LLC.
Oracle, Silver Lake, and Abu Dhabi's MGX will take the lead as managing investors.

Why does it matter?

This move is TikTok's answer to strict US rules about foreign ownership and national security worries.
The new setup gives about half the company to fresh investors, with ByteDance holding less than 20%, which fits the legal limits.
The US-based team will handle data protection, content moderation, and store American user info on Oracle-run servers—something CEO Shou Zi Chew says is key for keeping TikTok running in the States.
If all goes as planned, this new venture will be official by January 2025.