U.S. user data will be stored locally in a system run by Oracle, whose shares jumped 5% on the announcement.

TikTok's U.S. operations will be housed in a new joint venture, according to a memo sent to employees by CEO Shou Zi Chew.

Chiusura dell'operazione entro il 22 gennaio

The move ensures the popular social video platform can continue operating in the United States.

Deal with Oracle, Silver Lake and MGX, confirmed in internal memo, will allow app to continue operating in US

The deal would end years of efforts by Washington to force ByteDance to sell its US operations.

The owner of TikTok has agreed to create a joint venture that will make the popular social media app majority-owned by American investors.

En un memorándum interno, el CEO, Shou Chew, anuncia que ha alcanzado acuerdos con Oracle, Silver Lake y MGX

U.S. user data will be stored locally in a system run by Oracle, whose shares jumped 5% on the announcement.

The new joint venture will prevent TikTok from shutting down in the U.S. due to national security concerns.

Oracle and other investors have a deal with TikTok parent ByteDance to own the video app's U.S. operations. But we don't know all the details yet.