Techcrunch TikTok Forms Joint Venture to Maintain U.S. Operations Amid Regulatory Pressure
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TikTok has established a joint venture called TikTok USDS Joint Venture LLC, transferring control of its U.S. operations to a group of American investors, including Oracle and Silver Lake. This move aims to comply with U.S. government demands and avoid a ban that has been a concern since 2020 due to national security issues. Adam Presser has been appointed as CEO of the new entity.
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