Who owns TikTok in the US now?
TikTok’s Chinese parent company, ByteDance, just spun out an American venture to operate the popular video app in the United States.
The deal, announced Thursday, is part of an effort to comply with a 2024 federal law that aimed to separate TikTok from ByteDance to address national security concerns over the app’s ties to Beijing.
Under the arrangement, non-Chinese investors will own about 80% of the American venture. ByteDance will keep 19.9% of it. The investors, who could potentially have outsize influence on the popular social media platform, will license the app’s powerful recommendation algorithm from ByteDance and have the power to moderate content on the app.
