TikTok is added to the media empire of billionaire Larry Ellison
To avoid being banned in the US, TikTok just signed a $14 billion deal to create a US subsidiary.
As per the agreement, 45% of the US subsidiary, which will be named «TikTok USDS Joint Venture LLC,» would be jointly owned by software giant Oracle, the giant chaired by Ellison, private equity firm Silver Lake, and Abu Dhabi-based investment firm MGX.
The joint venture will be in charge of software assurance, content moderation, algorithm security, and US data protection.
According to the business, the joint venture will acquire a license for the algorithm from the Chinese company ByteDance and retrain it using US user data to guarantee that the content viewed by users in this nation is free from outside influence.
Oracle will be the security partner in charge of verifying and auditing adherence to the established national security terms.
