TikTok’s owner ByteDance has signed an agreement with US and international investors. According to the agreement, American users will continue to use TikTok, said company CEO Shou Zi Chew.
In the new company, investors together hold more than half of the shares. ByteDance keeps its 19.9% stake. The remaining shares are distributed among other investors. The agreement will officially close on January 22.
Under the agreement, TikTok’s algorithm will be adjusted to American user data and protected from outside influence. This will ensure the platform operates safely.
According to the company, over 170 million users in the US use TikTok. Additionally, more than 7 million small businesses promote their products and services. Investors are required to maintain the user experience and support small businesses.
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