President Trump announced Friday that there is a potential Tiktok deal in which a video platform controlled by a consortium of US investors could have been approved by Chinese President XI. Tiktok owner ByteDance has also issued an official statement stating that the company will work to ensure that Tiktok is “made available to American users through Tiktok Us.”
At the time, no further details regarding the transaction were provided.
Both countries have been working on ways to save Tiktok’s US operations after the Tiktok ban over national security concerns in January. The ban has been put on hold multiple times by the Trump administration amid a backlash from consumers and creators over the removal of the app.
This week, Trump hinted at the true social of his social media platform, reaching a deal, suggesting that buyers will be announced soon. A report in the Wall Street Journal confirmed that investors, including Oracle, Silver Lake and Andreessen Horowitz, own 80% of the US Tiktok entities, with Chinese shareholders holding the rest. The new company’s board of directors is primarily from the United States, with one board member appointed by the US government itself.
“The call was very good. We talk again on the phone and thank Tiktok for his approval,” Trump pointed out in his social account of truth on Friday.
On the Tiktok website, the company said, “We would like to thank President Xi Jinping and President Donald J. Trump for their efforts to maintain U.S. Tiktok.
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