Social media app TikTok has reached an agreement to sell its U.S. business to a joint venture controlled by U.S.-based investors, Axios’ Sara Fischer reports, citing an internal memo sent by CEO Shou Chew. The deal, which is set to close on January 22, Oracle (ORCL), Silver Lake, and Abu Dhabi-based MGX will collectively own 45% of the U.S. entity, while nearly a third of the company will be held by affiliates of current ByteDance investors, and almost 20% will be retained by ByteDance, the author notes. Publicly traded companies in the social media space include Meta Platforms (META), Pinterest (PINS), Reddit (RDDT) and Snap (SNAP).
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ORCL:
- Forget Nvidia (NVDA) — Focus on This Top AI Stock Instead in 2026
- Michigan approves Oracle, OpenAI data center, Bloomberg reports
- Michigan regulators favor approving DTE data center request, Bloomberg says
- Vanguard S&P 500 ETF (VOO) Daily Update, 12/18/2025
- OpenAI Charges Toward $750B in Epic $100B Round