TikTok Secures New Beginnings with Major U.S. Deal

TikTok has reached an agreement with major U.S. investors like Oracle and Silver Lake to create a new version of the app in the U.S., avoiding a potential ban. The new joint venture will ensure national security by implementing robust safeguards, and Adam Presser will lead as CEO.

TikTok has successfully inked a deal to roll out a new version of its app in the United States, circumventing the threat of a nationwide ban. The agreement involves significant players such as Oracle, Silver Lake, and MGX to establish TikTok US.

This new iteration will incorporate comprehensive protections designed to safeguard national security, according to a company statement released on Thursday. These measures include robust data safety protocols, algorithm security, and content moderation.

Adam Presser, formerly TikTok's head of operations and trust and safety, will spearhead the new venture as CEO. The development brings to a close years of ambiguity, particularly after legislation compelled TikTok to distance itself from its Chinese parent company ByteDance or face a ban by January 2025. This development marks a significant turning point for the company.

(With inputs from agencies.)