Oracle and other investors have a deal with TikTok parent ByteDance to own the video app's U.S. operations. But we don't know all the details yet.

The deal comes more than a year after Congress passed a law that forced its owner ByteDance to divest its US operations or face a ban.

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,

TikTok's Chinese owner, ByteDance, on Thursday signed binding agreements to hand control of the short video app's U.S. operations to a group of investors, including Oracle , in a big step toward avoiding a U.

A new U.S.-based joint venture would keep TikTok online while handing oversight of its algorithm and data security to some of America’s wealthiest investors.

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,

SAN FRANCISCO (AP) — TikTok has signed agreements with three major investors — Oracle, Silver Lake and MGX — to form a new TikTok U.S. joint venture, ensuring the popular social video platform can continue operating in the United States.

Oracle, Silver Lake, and Abu Dhabi’s state-owned investment firm MGX each plan to take a 15% stake. ByteDance will retain 19.9%.