Trump plans to announce a company called TikTok America, with a 50% stake for US investors and 19.9% for ByteDance, which would license the algorithm.
Trump plans to announce a company called TikTok America, with a 50% stake for US investors and 19.9% for ByteDance, which would license the algorithm.
www.capitalbrief.com Trump to unveil TikTok America plan to skirt US ban, says The Information
Amazon has made a surprise last-minute bid to buy TikTok, days before a Saturday deadline for the app to separate from its Chinese owner or be banned in the United States, The New York Times reported citing three unnamed sources.
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Math doesn't add up.
The proposed structure would involve TikTok America being roughly 50% owned by new US investors and licensing TikTok’s algorithm from ByteDance.
Existing investors in ByteDance would have a roughly one-third stake, while ByteDance would retain a 19.9% stake, according to the report.