TikTok, owned by the Chinese company ByteDance, has been at the center of controversy in the U.S. for four years now due to concerns about user data As TikTok's future remains uncertain, a number of prominent moguls and companies are competing for the opportunity to purchase the app.

New investors include Oracle Corp, Andreessen Horowitz and private equity firm Silver Lake Management LLC.

New investors include Oracle Corp, Andreessen Horowitz and private equity firm Silver Lake Management LLC.

The White House press secretary said Americans will hold six of seven board seats in the restructured TikTok, and the video app’s algorithm will be U.S.-controlled.

TikTok, owned by the Chinese company ByteDance, has been at the center of controversy in the U.S. for four years now due to concerns about user data As TikTok's future remains…