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TikTok signs Trump-backed deal to avoid US ban
Joint venture will take over part of app’s US operations, including data protection, algorithm security and content moderation
TikTok has reached a deal to form a joint venture that will allow it continue operating in the US, five years after Donald Trump threatened to ban the social media platform over privacy and national security concerns, a move that further strained relations with China.
ByteDance, TikTok’s Chinese owner, has signed a deal with Larry Ellison’s Oracle, the private-equity group Silver Lake and Abu Dhabi’s MGX that will allow it to retain control of its core US operations.
Source: www.theguardian.com
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