TikTok and its Chinese owner ByteDance have officially established a venture to transfer parts of its US business to a consortium of mostly US investors, securing the platform’s future for 170 million American users. The announcement came on Thursday, just hours before a Friday shutdown deadline.
TikTok and its Chinese owner ByteDance announced on Thursday the creation of a new venture to transfer parts of its US business to a consortium of mostly US investors. This move effectively averts a shutdown, securing the platform's future for its 170 million American users.
In a social media post that same day, US President Donald Trump offered his endorsement, stating he was “so happy to have helped in saving TikTok.” He added: “It will now be owned by a group of Great American Patriots and Investors, the Biggest in the World, and will be an important Voice.” Trump also thanked Chinese President Xi Jinping for “working with us and, ultimately, approving the Deal.” He noted: “He could have gone the other way, but didn’t, and is appreciated for his decision.”
Beijing has not officially confirmed the agreement, despite Trump's claim of approval. Details of the deal remain sparse, but it represents a potential easing of US-China tech tensions. ByteDance has long faced scrutiny in the US over data security concerns. The new venture could address some of those issues, though Beijing's reticence raises questions about the deal's finality.
The development, reported on January 23, 2026, underscores the geopolitical stakes for global digital platforms.
