Private equity firms, tech giants and existing ByteDance backers make up the investor group behind the newly created US venture.
TikTok and its Chinese parent ByteDance announced on Thursday the official creation of a new US venture – TikTok USDS Joint Venture – to operate the short video app used by 200 million Americans.
The deal, the culmination of years of legal and political uncertainty, is part of the effort to comply with a 2024 US law that aimed to push ByteDance to divest TikTok to address national security concerns over the app’s links to Beijing.
