TikTok, ByteDance and joint venture
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ByteDance Ltd. is on track for profits of roughly $50 billion in 2025, capping a record year for a Chinese social media leader making major inroads into e-commerce and new markets.The Beijing-based parent company of TikTok is on track to hit that milestone after amassing net income of about $40 billion over the year’s first three quarters,
In a memo to staff reviewed by Reuters, TikTok CEO Shou Zi Chew confirmed that all US data “will be stored in a trusted and secure cloud environment in the United States run by Oracle,” with Oracle ultimately responsible for safeguarding US data.
The TikTok owner has announced higher bonuses, wider pay bands and faster equity payouts as it seeks to stay competitive in the global talent race.
The content recommendation algorithm that powers the online short video platform TikTok has once again come under the spotlight after the app's Chinese owner ByteDance signed binding agreements to form a joint venture that will hand control of operations of TikTok's U.
ByteDance has signed agreements to transfer control of TikTok's U.S. operations to investors like Oracle, avoiding a potential U.S. ban. The new venture, valued at $14 billion, will see Oracle, Silver Lake,
TikTok has signed agreements with investors to establish a new U.S. joint venture, a move CEO Shou Chew said advances the company toward resolving a yearslong battle over its U.S. operations.
TikTok CEO Shou Chew also told employees that ByteDance signed binding agreements to create a joint venture majority-owned by American investors including Oracle Corp, according to a reviewed memo.
President Donald Trump announced a preliminary agreement for the sale on Sept. 19, 2025, following his negotiation with Chinese leader Xi Jinping. TikTok CEO Shou Zi Chew told employees in a memo obtained by news organizations that the company is working to close the deal by Jan.
The TikTok deal, signed pursuant to an executive order signed by US President Donald Trump on Sept. 25, specifies that the new JV will be majority-owned by US investors, governed by a new seven member majority-US board of directors, and subject to terms that protect local users' data and the country's national security.