The app was due to be banned in the US a year ago if its Chinese owner hadn't sold its business in America.

The deal will be finalized this week

The deal avoids the threat of the popular app being banned in the U.S. over national security concerns.

The social video platform company signed agreements with major investors including Oracle, Silver Lake and MGX.

Majority US-owned venture includes Larry Ellison’s Oracle, private-equity group Silver Lake and Abu Dhabi’s MGX

New joint venture will run operations a year and a half after Congress voted to ban the social media app unless it was sold

TikTok announced Thursday that its China-based parent company, ByteDance, has sold its majority stake in the U.S. business rights of its social media platform to a group of…

The app was due to be banned in the US a year ago if its Chinese owner hadn't sold its business in America.

It is a challenge for TikTok's parent company ByteDance as well as global ambitions for other Chinese tech companies.

While TikTok's future in the US has been secured, questions remain about exactly what changes US users will see.

TikTok and other China-linked apps dominated U.S. app downloads in 2025, defying mounting political pressure, trade restrictions and national security scrutiny.

It comes after TikTok faced years of intense scrutiny in the US due to concerns about user data privacy.