Summary
ByteDance, the company that owns TikTok, has agreed to sell most of its TikTok business in the United States to a group of investors. This sale is set to complete on January 22 to address U.S. national security concerns.
Key Facts
- ByteDance owns TikTok, which is a popular app for sharing short videos.
- ByteDance signed agreements with investors, including Oracle, Silver Lake, and MGX, to sell most of its U.S. business.
- The deal is expected to be finalized on January 22.
- The sale comes after efforts by the U.S. government to push ByteDance to sell TikTok's U.S. operations.
- President Donald Trump delayed a law that would ban TikTok unless it was sold.
- The agreement will allow over 170 million Americans to keep using TikTok.
- TikTok described the agreement as opening up a world of endless possibilities for its users in the U.S.
