TikTok’s parent company, ByteDance, has signed a deal with a group of non-Chinese investors to form majority American-owned joint venture to keep the social app operating in the U.S. The deal ends a six-year long political saga that started in 2020 when President Donald Trump tried to ban the app over national security concerns during his first term.
Adam Presser, who was TikTok’s head of operations and trust and safety, will be the CEO of TikTok USDS Joint Venture LLC. TikTok CEO Shou Chew will serve as a director.
The venture’s…

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