Four months after President Donald Trump issued an executive order for the United States to acquire TikTok from China-based ByteDance, a deal has been finalized, establishing a joint venture with American companies taking the lead on data and security.
ByteDance’s 2017 acquisition of the U.S. app, then called Musical.ly, triggered a yearslong investigation and efforts by three U.S. administrations to require ByteDance to divest of TikTok over national security concerns tied to the Chinese communist regime’s intelligence-sharing laws.
The deal, finalized on Jan. 22, establishes the TikTok USDS Joint Venture, which is responsible for securing U.S. data and the app algorithms. Other apps owned by ByteDance, such as CapCut and Lemon8, will fall under the same requirements….
TikTok US Deal Finalized: What to Know
