Deal to secure TikTok’s future in the US has finally closed
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TikTok is moving to spin off its U.S. operations into a separate entity controlled by a group of primarily American investors backed by President Donald Trump, the company announced Thursday. The social media app,
The United States and China have signed off on a deal that would hand control of TikTok’s U.S. operations to a group of investors backed by the Trump administration, according to a White House official.
The popular short form video app has a new corporate structure in the United States, which could result in some changes for the 200 million Americans who use TikTok.
The U.S. and China have both signed off on TikTok’s long-awaited divestment deal, clearing way for the popular social media app’s future in the U.S., a White House official confirmed to Scripps News.
American users can continue using the same app as Oracle takes lead on storing US data locally with algorithm to be retrained on US user data.
Video-sharing platform TikTok has over a billion users worldwide, including more than 170 million in the United States, it says -- nearly half the country's population. The platform has faced scrutiny worldwide,
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