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TikTok’s owner ByteDance has signed a deal creating a U.S.-focused joint venture majority-owned by American and global investors, allowing the app to avoid a U.S. ban while ByteDance retains a minority stake. The BBC reports: Half of the joint venture will be owned by a group of investors including Oracle, Silver Lake and the Emirati investment firm MGX, according to a memo sent by chief executive Shou Zi Chew. The deal, which is set to close on January 22, would end years…
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TikTok’s owner ByteDance has signed a deal creating a U.S.-focused joint venture majority-owned by American and global investors, allowing the app to avoid a U.S. ban while ByteDance retains a minority stake. The BBC reports: Half of the joint venture will be owned by a group of investors including Oracle, Silver Lake and the Emirati investment firm MGX, according to a memo sent by chief executive Shou Zi Chew. The deal, which is set to close on January 22, would end years…
We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.
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