TikTok and its Chinese parent ByteDance announced on Thursday the official creation of a new US venture – TikTok USDS Joint Venture – to operate the short video app used by 200 million Americans.
The deal, the culmination of years of legal and political uncertainty, is part of the effort to comply with a 2024 US law that aimed to push ByteDance to divest TikTok to address national security concerns over the app’s links to Beijing. Without a divestment, the app would have faced a nationwide…