TikTok has signed the deal backed by Donald Trump to spin off its US assets to create a new entity with a group of mostly American investors, CEO Shou Chew told employees in a memo Thursday.
Although the transaction is not yet complete, the move brings TikTok one step closer to securing its long-term future in the United States. It comes after a law passed last year required that the US version of the app be spun off from its parent company, ByteDance, or be banned in the United States. Trump repeatedly delayed enforcement of the law as he pursued a deal to transfer control of the popular app to American ownership.
Should have just pulled out of the USA market by blacklisting IPs and let young people become outraged.
Yeah but anyone can be bought if the price is high enough.
No, getting the children hooked on their screens early is more valuable to them.