The icon for the TikTok video sharing app is seen on a smartphone in Marple Township, Pa., Feb. 28, 2023. Matt Slocum/AP
Matt Slocum/AP
TikTok has finalized a deal to create a new American entity, avoiding the looming threat of a ban in the United States that has been in discussion for years.
The social video platform company signed agreements with major investors including Oracle, Silver Lake and MGX to form the new TikTok U.S. joint venture. The new version will operate under “defined safeguards that protect national security through comprehensive data protections, algorithm security, content moderation and software assurances