Chinese-owned video platform TikTok has sealed a deal to create a joint venture with American investors. The move allows the popular social app to dodge the threat of being banned in the US.TV. TikTok has sealed a deal to create a joint venture with American investors.
The move allows the popular social app to dodge the threat of being banned in the US.
TikTok’s logo displayed on a phone screen
US President Donald Trump tried to ban TikTok in 2020 but later postponed the ban pushed by Joe BidenImage: Infinity News Collective/image
TikTok has set up a majority American-owned joint venture to secure its US operations, averting a ban on the short video app over its Chinese ownership.
The TikTok USDS Joint Venture LLC will cater to more than 200 million users and 7.5 million businesses, securing user data, apps and algorithms through data privacy and cybersecurity measures, ByteDance — the social media platform’s parent company, which is based in China — said on Thursday.
The deal is the culmination of a years-long saga that saw TikTok being caught in the crosshairs of geopolitical tensions between the US and China.
