00:00TikTok's U.S. spinoff is now official, and the new American-controlled entity is live.
00:08The news website Semaphore was first to report the deal had been signed off on by China and the U.S.
00:14By late Thursday night, the joint venture formally launched and named its leadership team.
00:19The new company now controls TikTok's American operations and user data just one day before a Trump administration deadline
00:26to force ByteDance to divest or face a ban.
00:30Under the deal, ByteDance keeps a 19.9% stake.
00:34The rest is owned by a U.S.-led investor group, including Oracle, Silver Lake, and the UAE-backed fund MGX.
00:42The venture will be run by CEO Adam Presser, with Oracle overseeing data storage and security.
00:47The group says it will control content moderation, algorithm security, and software protection for users here in the U.S.
00:55TikTok says Americans won't see visible changes to the app,
00:59but the algorithm will now be retained on U.S. user data under the new ownership structure.
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