Updated:US President Trump signed another executive order earlier, officially confirming that TikTok's US business will continue to operate for another 90 days.
The Wall Street Journal reportedIt is said that the United States and China have entered the final stage of the agreement, which willTikTok's US operationsThe company will be controlled by specific American investors, holding approximately 80% of the shares, while Chinese shareholders will retain less than 20% of the shares. The US government can also appoint a director to the company's governance structure to ensure a "US-led" business direction.
US investors lead operations, while Oracle is responsible for data security
The report indicates that US investors include long-time TikTok partner Oracle, renowned Silicon Valley venture capital firm Andreessen Horowitz (a16z), and private equity firm Silver Lake. Oracle will continue to oversee user data for TikTok's US operations, ensuring it is stored within the US and complies with privacy regulations.
In addition, TikTok will rebuild a brand new American version of the app, and the algorithm will be rebuilt by engineers using ByteDance's authorized technology, which means that the American version of TikTok willUsing the core technology of Chinese algorithms, and also has an independent data governance and compliance architecture.
Trump administration extends ban pending final agreement
US President Trump said in June that a deal to acquire TikTok could be finalized in "about two weeks," but the process has been plagued by multiple rounds of negotiations and delays. Trump is expected to extend the original ban again and has revealed he will speak with Chinese President Xi Jinping to finalize the details.
This will be the fourth time TikTok's ban has been extended, meaning that while a consensus is nearing on whether TikTok's operations in the US will continue, legal, commercial, and technical details still need to be finalized. If the agreement is successfully implemented, TikTok will no longer face being removed from the US market, and its users will be able to seamlessly use the new version of the app.
Impact on global social platforms
TikTok has approximately 1.7 million active users in the United States, making it one of the fastest-growing social platforms in the world. This agreement not only marks a significant breakthrough in the Sino-US tech landscape, but also potentially sets a new precedent for data governance, algorithm use, and equity distribution among multinational tech companies.
For the US government, this move can ensure national security and data privacy; for ByteDance, it means retaining important markets and avoiding being forced to sell or withdraw from the US market.
