TikTok has finalized a deal to form a new U.S. entity with investors that include Oracle, Silver Lake and Emirati firm MGX, easing the threat of a nationwide ban and allowing the social media app to continue operating for more than 200 million American users.

The company said Thursday that the new TikTok U.S. joint venture will operate with safeguards aimed at addressing national security concerns, including U.S.-based data storage run by Oracle and protections around content moderation and software.

 

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TikTok forms US entity, easing social media marketing concerns for mortgage pros