U.S., China Agree To Deal Allowing TikTok To Continue U.S. Operations

After an almost year-long structuring of a deal, the United States and China have agreed to a deal which allows TikTok to continue operations in the U.S.

Multiple reports say that TikTok parent company ByteDance has divested from its U.S. operations, handing a majority stake to a venture. Included in that venture is tech company Oracle, United Arab Emirates investment firm MGX, and private equity firm Silver Lake.

This deal comes after a shutdown deadline, demanding ByteDance divest from the U.S., or the app would be banned.