TikTok in the United States is about to see significant change as a new US-based algorithm is introduced in the name of “protecting Americans’ data and US National Security.”
After over five years of talks to ban TikTok because of supposed national security concerns, a sale is set to be finalized. On January 22, if the Chinese government approves, TikTok in the United States will be 50% owned by investing firms and meet the requirements of the Protecting Americans from Foreign Adversary Controlled Applications Act signed into law by President Biden.
According to a report from the Associated Press, TikTok has signed agreements with Oracle, Silver Lake, and Abu Dhabi state-run MGX. These entities will own 15% stakes each, with other unnamed investors bringing it to 50% US investment, and 19.9% will be held by ByteDance, and 30.1% held by affiliates of existing ByteDance investors.
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