TikTok CEO Shou Chew hailed the establishment of the TikTok USDS Joint Venture as “great news,” and said the app is used by 200M U.S. users and 7.5M U.S. businesses, Business Insider’s Dan Whateley reports, citing an internal memo. Under the terms of the deal, Oracle (ORCL), private equity firm Silver Lake and Abu Dhabi-based investment firm MGX will collectively own 45% of the U.S. entity.
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