TikTok Sells US Business to Oracle

ByteDance — TikTok Shop has signed a deal to sell its U.S. business to a consortium of American investors, including Oracle Corporation, Silver Lake, and MGX. This agreement resolves years of regulatory uncertainty and ensures the social video platform can continue operating in the United States. The deal, expected to close on January 22, will establish a new U.S. joint venture with a majority-American board of directors. Oracle Corporation, Silver Lake, and MGX will each hold a 15% share, while affiliates of existing ByteDance investors will hold 30.1%, and ByteDance will retain 19.9%. The U.S. venture will store user data locally with Oracle Corporation and retrain ByteDance — TikTok Shop's algorithm on U.S. user data to ensure content feed integrity. This follows a period where the United States government, under both Donald Trump and Joe Biden, sought to ban ByteDance — TikTok Shop due to national security concerns related to its China-based parent company, ByteDance.