Big News, TikTok Fans! 🚀
The buzz around TikTok just got bigger! TikTok's parent company, ByteDance, has inked a major deal to keep the app thriving in the US. This new joint venture pairs ByteDance with some heavyweight partners: Oracle, Silver Lake, and Abu Dhabi’s MGX. And it’s all set to kick off on January 22! 🎉
Meet the Dream Team 🤝
These superstar investors are splitting their magic 15% each in the new venture, and ByteDance is keeping a solid 19.9%. The rest is shared among other ByteDance investors and some mysterious new faces holding 5%. That means 50% of TikTok’s US biz is in new hands. Talk about teamwork! 💪
Data Made in the USA 📊🇺🇸
Big changes are coming to keep our TikTok experience awesome and genuine. The algorithm that's behind all your fave videos will get its smarts from US data only! Thanks to Oracle’s cool data centers, your TikTok feed is safe from any prying eyes. 🔒
A Thank You from the Top 🏆
Shou Zi Chew, ByteDance's CEO, gave a shout-out to all the TikTok squad in his memo, appreciating their “dedication and tireless work” to keep TikTok rolling smoothly and excitingly here in the US and worldwide! 🙏
It's a Billion-Dollar Ride 💸
How big is the deal? Though the exact dollar tags are hush-hush, US operations are rumored to be valued at a jaw-dropping $14 billion! That's a bit of a surprise since some experts thought it could go over $50 billion. Talk about a blockbuster deal! 🎥
Save the Date! 📆
Mark January 22 on your calendars because TikTok's new journey begins then! With its new partners and focus on keeping our data at home, the app’s future in the US looks brighter than ever. Stay tuned and keep on scrolling! 📱✨