We have more details on the TikTok deal, including some ownership statistics

Share via:


TikTok to spin off its American business, and others. This should keep the popular social media app available in the US for good, capping off years of drama.

We now have some new data as to the specifics of the deal. Nearly 50 percent of assets will be split between three companies. Oracle, Silver Lake and MGX will each control around 15 percent of the newly-formed entity. It’s worth noting that MGX isn’t an American company at all, but rather Abu Dhabi’s state-owned investment firm.

The rest will…



Source link

Disclaimer

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.

Popular

More Like this

We have more details on the TikTok deal, including some ownership statistics


TikTok to spin off its American business, and others. This should keep the popular social media app available in the US for good, capping off years of drama.

We now have some new data as to the specifics of the deal. Nearly 50 percent of assets will be split between three companies. Oracle, Silver Lake and MGX will each control around 15 percent of the newly-formed entity. It’s worth noting that MGX isn’t an American company at all, but rather Abu Dhabi’s state-owned investment firm.

The rest will…



Source link

Disclaimer

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.

Website Upgradation is going on for any glitch kindly connect at office@startupnews.fyi

More like this

Temu-owner PDD Holdings appoints co-CEO Zhao as co-chairman of...

SynopsisPDD Holdings has appointed Jiazhen Zhao as co-chairman...

iPad $274, M5 MacBook, Apple Pencil, Magic Mouse, more...

Alongside the ongoing Amazon all-time low on AirPods...

TanStack Adds Framework-Agnostic AI Toolkit

The TanStack team has added yet another piece...

Popular