The agreement transferred control of TikTok’s US user data and most of its US operations to a new joint venture, 50% of which will be owned by a consortium of investors comprised of tech company Oracle, private equity firm Silver Lake and Emirati-backed investment firm MGX.
Having your data owned by Larry Ellison is better than Xi Jinping, I suppose.
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The key point:
The agreement transferred control of TikTok’s US user data and most of its US operations to a new joint venture, 50% of which will be owned by a consortium of investors comprised of tech company Oracle, private equity firm Silver Lake and Emirati-backed investment firm MGX.
Having your data owned by Larry Ellison is better than Xi Jinping, I suppose.
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