President Donald Trump has signed an executive order in the Oval Office launching his social media and video streaming platform TikTok.
TikTok announced Thursday that it has finalized a landmark deal to launch a joint venture in the United States, a move aimed at avoiding a possible US ban on the popular social media app.
The deal marks a major milestone for TikTok, which comes after years of legal and political battles that began in 2020, when President Donald Trump raised national security concerns about the Chinese-owned platform.
The Joint Venture LLC, built on the foundation of the TikTok US Data Security (USDS) organization, will satisfy the US regulatory requirements established by Trump’s executive order on September 25 of last year, allowing millions of American users and businesses to continue working on this platform.
“I am very happy that I helped to save TikTok! Now it will be a group of Great American Patriots and Investors, Biggest in the World, and it will be an important Word,” Trump said in a post on Truth Social on Thursday.
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An estimated 200 million Americans and 7.5 million businesses are active on TikTok. (Photo: Fabian Sommer/dpa (Photo by Fabian Sommer/photo alliance via Getty Images) / Getty Images)
“Today, the TikTok USDS Joint Venture LLC has been established pursuant to an Executive Order signed by President Trump on September 25, 2025, now allowing more than 200 million Americans and 7.5 million businesses to continue to discover, create, and thrive as part of the global TikTok community,” the company added.
The company added that TikTok’s sister apps, such as CapCut and Lemon8, will also be brought under the US direction of the joint venture.
Under the TikTok deal, US entities will hold an 80.1% stake in the new joint venture, with original parent company ByteDance retaining 19.9%.
Three companies, including cloud computing giant Oracle, private equity group Silver Lake and Abu Dhabi-based MGX, will act as managing investors, each holding 15%.
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President Donald Trump speaks in the Rose Garden of the White House, Monday, June 1, 2020, in Washington. ((AP Photo/Patrick Semansky))
The business will establish a domestic cloud environment under Oracle, through strict data privacy and cybersecurity measures, to protect US users’ data, applications and algorithms, the company said.
“The content recommendation algorithm will be secured in Oracle’s US cloud environment,” the company said.
Signs are displayed on the Oracle Corp. headquarters building. campus in Redwood City, California, US, on Monday, March 14, 2016. (Michael Short/Bloomberg via Getty Images/Getty Images)
The new entity is governed by a seven-member board of directors, mostly American, including representatives of major investment firms and technology companies.
Adam Presser has been named CEO of the new joint venture. Other company representatives on the board include TikTok CEO Shou Chew, Kenneth Glueck of Oracle, Egon Durban of Silver Lake and David Scott of MGX.
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The Joint Venture will be designed to ensure that US users maintain a “global TikTok experience,” allowing creators to be found around the world while allowing American businesses to continue to manage commercial operations such as e-commerce, advertising and marketing.
