The big news of the day is that TikTok is remaining active in the United States, thanks to a last minute agreement that enables ByteDance to retain 20% ownership over the app. The joint venture between a number of partners allows majority ownership of the social media platform to sit within the United States, while its parent company retains a percentage of ownership too.
Who Owns TikTok Now?
In the United States, TikTok will now sit under the ownership of a board of seven individuals, who include TikTok’s CEO and several other major names in the investment sector.Â
As part of the new reign of TikTok, elements of the platform are set to be redesigned and reconsidered, including the algorithm that affects the number of views each post receives.Â
Notably, users will not have to download a new version of the app – rather, these changes will be implemented into the existing app. Any changes to the algorithm or the inner workings of the app will be rolled out gradually, with users and content creators urged to keep their eye on further updates and advice on how best to use the app.
Good news for US TikTok users!
