is a news writer who covers the streaming wars, consumer tech, crypto, social media, and much more. Previously, she was a writer and editor at MUO.
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TikTok ban: all the news on the app’s shutdown and return in the US
TikTok is officially under new ownership in the US, and that could spell big changes for the video-sharing app. On January 22nd, ByteDance – TikTok’s Chinese parent company — and a group of investors closed a $14 billion deal to spin off the platform’s US operations, introducing a new slate of American executives.
The Silver Lake investment firm, Abu Dhabi’s MGX, and the cloud giant Oracle will each have 15 percent stakes in the new TikTok US Data Security (USDS) Joint Venture LLC. ByteDance will still hold a 19.9 percent stake in the company, in line with the divest-or-ban law that went into effect last year — though the deal was pushed through with help from President Donald Trump in persistent disregard of the law.
The most visible change so far has been a new terms of service, which is popping up for US-based users hopping onto TikTok. The new terms have some people worried, but some of the sections raising concerns aren’t actually new.
Here’s how the joint venture will impact the app and your feed.
Who is in charge of TikTok now?
Adam Presser, TikTok’s former global head of operations and trust and safety, will serve as the CEO of the US-based company, while Will Farrell, who previously worked as the head of security and privacy for TikTok’s US arm, will become the joint venture’s chief security officer.
Shou Zi Chew will remain the CEO of TikTok’s global operations under ByteDance, and will get a seat on the US-based joint venture’s board of directors, joined by six other Americans:
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