NEW YORK: Good news has emerged for around 170 million TikTok users in the United States, as the popular short-video platform is now likely to avoid a nationwide ban.
Chinese company ByteDance, the owner of TikTok, announced on Thursday that it has signed binding agreements with three major investors to establish a joint venture that will operate TikTok’s US app. The move is aimed at preventing a potential ban by the US government and is being seen as a significant step toward ending years of uncertainty surrounding the app’s future in the country.
The agreement marks a major milestone for TikTok, which is used by more than 170 million Americans.
The dispute over TikTok began in August 2020, when then-President Donald Trump made an unsuccessful attempt to ban the app over national security concerns.
Details of the agreement align with a plan revealed in September, when President Trump delayed enforcement of a law requiring TikTok to be banned unless its Chinese owners divested US assets. At the time, Trump stated that the deal met the divestiture requirements under the 2024 law.
