Is TikTok's deal a win or a loss for US users? ByteDance to get 50% of profits.
Under a revised agreement with the Trump administration, ByteDance will receive approximately 50% of TikTok's U.S. profits. This deal aims to address national security concerns surrounding the popular video-sharing app. The valuation of TikTok's U.S. operations is reportedly around $14 billion.
The agreement involves a complex structure with Oracle and Walmart potentially taking ownership stakes. Experts are already criticizing the deal, with some calling it a "shakedown scheme." Foreign involvement and the hefty price tag are also drawing scrutiny.
ByteDance's reduced profit share is a significant shift. It reflects ongoing negotiations and security reviews. The deal's long-term implications for TikTok's future and user data remain to be seen.
