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The TikTok deal is done, finally

The Verge · Richard Lawler · last updated

Just over a year after it briefly disappeared from app stores, TikTok in the US is now part of a new entity, TikTok USDS Joint Venture LLC. With approval from both the US and China closing on the schedule laid out in December, ByteDance’s ownership of the new joint venture is now only 19.9 percent to satisfy the terms of the divest-or-ban law signed in 2024 by President Biden. The other 80.1 percent is owned by investment firm Silver Lake, Oracle, and Abu Dhabi investment firm MGX — the three “managing investors” that now hold 15 percent stakes — and several other smaller investors, like Michael Dell’s family investment firm.

 

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Related Knowledge Center: The TikTok ban

State of Play

The U.S. Congress passed and President Joe Biden signed into law a measure banning TikTok if it weren’t sold by its Chinese ownership. But now-President Donald Trump gave the service a reprieve, and a sale of its U.S. operations appears imminent.

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