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Report: Consortium to control 80% TikTok stake

CNBC · Just In
CNBC
CNBC
Just In

The Wall Street Journal is reporting that under the framework U.S.-China TikTok deal, about 80% of TikTok's U.S. business would be owned by Oracle, Silver Lake, and Andreesen Horowitz.

Breakdown
  • A consortium is set to take control of TikTok under a new US-China deal. 13s
  • The consortium includes Oracle, Silver Lake, and Andreessen Horowitz. 21s
  • US investors will hold about 80% of TikTok, with Chinese interests retaining 20%. 24s
  • TikTok engineers will recreate content recommendation algorithms in the US using technology licensed from ByteDance. 43s
  • Oracle will control the data flow to address national security concerns. 49s
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