TikTok is finally sold in the US

TikTok has completed the sale of its US business, according to Reuters For reports from Axios, Hollywood Reporterand CNBC. They reported that a memo from TikTok CEO Shou Zi Chew to employees on Thursday stated that the deal would close on January 22, with Oracle, Silver Lake and Abu Dhabi-based MGX owning 45 percent of the company, while China-based parent ByteDance owns 20 percent.

The remainder of the company will be held by “affiliates of existing ByteDance investors.” Axios Reports. Tik Tok Darkness for a brief period in the United States In January Such as the law of withdrawal or ban entered into force. Over the course of the year, President Donald Trump has given TikTok a A series of extensions To reach a deal to sell its US operations. the The United States and China agreed on a “framework” for the deal in September, triggering another extension that expired on December 16.

“Your efforts keep us operating at the highest level and will ensure TikTok continues to grow and thrive in the United States and around the world,” Chiu wrote, according to the letter. Hollywood Reporter. “With these agreements in place, our focus must remain where it has always been – firmly on delivering for our users, creators, companies and the global TikTok community.”

Reports indicate US-based TikTok will use an algorithm based on that created by ByteDance, but it will be retrained on US user data and will be controlled by Oracle. TikTok did not immediately respond EdgeRequest for comment.