President Donald Trump thanked Chinese President Xi Jinping after TikTok reached a deal with Oracle, Silver Lake, and MGX investors to avoid a US ban

Chinese social media giant TikTok, a platform for sharing short-form videos, recently closed a major deal that will allow it to continue its American operations smoothly, according to media outlet Pop

DONALD Trump has claimed that he has saved TikTok after a deal was agreed that keeps the app running for around 200 million Americans. Social media bosses were given orders to find a new

TikTok and parent ByteDance have formed a joint venture to transfer parts of TikTok's US business to non-Chinese owners, ensuring the app's future in the US. This deal was initiated to address national security concerns and avoid a ban on the platform.

ByteDance, the China-based parent company of TikTok, has finalized a long-anticipated agreement to restructure the app’s U.S. operations through a new joint venture that will be majority owned by American and global investors.

Trump announces TikTok's ownership restructure, ensuring its survival for 200 million American users amid national security concerns.

TikTok avoided a US ban after ByteDance finalized a deal creating a majority American-owned joint venture that gives US investors control.