TikTok, ByteDance and joint venture
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ByteDance, TikTok's owner, has reached an agreement with major investors to form a joint venture for operating TikTok in the U.S., aiming to prevent a government ban. The deal involves investors like Oracle and Silver Lake,
An internal memo says its algorithm will be retrained on US user data after the deal closes in January.
A billionaire investor keen on buying TikTok's US operations has told the BBC he has been left in limbo as the latest deadline for the app's sale looms. The US has repeatedly delayed the date by which the platform's Chinese owner, ByteDance, must sell or be blocked for American users.
ByteDance, TikTok's Chinese owner, has finalized agreements to sell over 80% of its U.S. assets to American and international investors. This move aims to prevent a U.S. ban and involves major investors like Oracle and Silver Lake.