In order to avoid the impending threat of a ban in the US, TikTok has finalised an agreement to establish a new American entity. To establish the new TikTok U.S. joint venture, the social video platform has inked deals with significant investors such as Oracle, Silver Lake, and the Emirati investment group MGX. The business said in a statement on 22 January that the new version will function under specified safeguards that protect national security through extensive data protections, algorithm security, content filtering, and software assurances for U.S. users. TikTok users in the United States can keep using the same app. Let’s explore the other details of the new entity.Trump Praising the DealIn a Truth Social post, President Donald Trump praised the agreement. In particular, he complimented Chinese leader Xi Jinping for cooperating with the United States and ultimately approving the deal. Trump went on to say that he believes those who use and enjoy TikTok will remember him for a very long time. Regarding TikTok’s statement, the Chinese government has not yet made any public remarks.China’s stance on TikTok has been clear and constant, according to Liu Pengyu, the spokesperson for the Chinese embassy in Washington. Adam Presser, the… Read MoreStartupTalky- Business News, Insights and Stories
