The Tik Tok Deal is Finally Done

By John Sexton

It took more than a year to make the deal but it’s finally done. Byte Dance has signed off on an agreement to sell US Tik Tok to a group of American and UAE investors.

The deal, facilitated by the Trump administration, means the U.S. version of TikTok will become majority-owned by a group of investors that includes the American tech giant Oracle, the California-based private equity fund Silver Lake and the United Arab Emirates investment firm MGX…

ByteDance will keep a 19.9% stake in the U.S. operation, TikTok said in a December memo…

Americans make up TikTok’s largest user and creator bases, with more than 150 million active users in the country…

READ FULL ARTICLE HERE… (hotair.com)

 

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