TikTok's Chinese owner ByteDance inks deal to sell US operations to American investors, including Oracle

TikTok’s Chinese owner, ByteDance, signed binding agreements with three major investors to sell just over 80% of the company’s US assets to American and global investors to avoid a US government ban, TikTok CEO Shou Zi Chew told employees on Thursday.The deal is a major step toward resolving years of uncertainty about the short video app’s future in the US since August 2020, when then President Trump first tried unsuccessfully to ban the app that is now used regularly by more than 170 million Americans.The ...