TikTok USDS Joint Venture now runs TikTok in the United States, as the popular video sharing app avoids being banned following threats from the US government.

The deal for a consortium of U.S. investors to acquire control of the American assets of the video platform closed Thursday.

TikTok has finalized a deal to sell parts of its US business. Oracle, Silver Lake, MGX, and Michael Dell are part of the consortium of new investors.

"For three years in high school, I watched Chinese movies and had this incredibly eye-opening experience,” Presser said in a 2023 interview.

After more than a year of delays, a joint venture has officially been formed that will allow TikTok to continue to operate in the U.S.

TikTok has closed a deal to spin off parts of its US business in a new joint venture. The company also announced that Adam Presser, previously TikTok’s head of operations, will be the CEO of TikTok USDS Joint Venture,

TikTok said Thursday that it officially formed a joint venture that will keep the video-sharing app operating in the United States.

TikTok has announced a US-based joint venture to keep the app running in America, with Adam Presser appointed as CEO

ByteDance has closed a deal to form TikTok U.S., a joint venture that will be majority-owned by American investors — finally bringing the popular video app into compliance with a U.S. law that went into effect last year.

Adam Presser is the CEO of the US-controlled TikTok, as the board and investors have been revealed.

TikTok picked an insider to lead its newly created US business, choosing an executive with deep ties to the entertainment world and history reporting up to ByteDance Ltd.’s leadership.