The CEO of TikTok, Shou Zi Chew, sent an internal letter on Thursday local time (December 18) updating on the progress of TikTok's U.S. business.
The internal letter stated that ByteDance and TikTok have signed agreements with three investors and will establish a new TikTok U.S. joint venture called TikTok USDS Joint Venture LLC.
According to a report by Bloomberg citing TikTok's internal letter, the three investors are Oracle, Silver Lake, and MGX, an investment group from the United Arab Emirates' Abu Dhabi, each retaining 15% of the shares; 30.1% will be held by affiliated parties of existing investors of ByteDance; another 19.9% will be retained by ByteDance. 50% of the investors will be new investors, with U.S. investors being the majority shareholders.
The U.S. joint venture will be responsible for data protection, algorithmic safety, content moderation, and software security for TikTok in the United States.
The other entities of TikTok in the United States, which are fully owned by ByteDance, will continue to be responsible for e-commerce, advertising, market operations, and other commercial activities, as well as the global connectivity of TikTok products. The relevant matters of the agreement will be completed no later than January 22, 2026.
Original article: toutiao.com/article/1851905739874304/
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