#tiktok-us-restructuring

#tiktok-us-restructuring

"We appealed and appealed and lost every appeal. And then the case was ultimately dismissed."

When the deal was first announced, many were stunned by the $14 billion price tag. It read like a fire sale, with sources chalking that up to how ByteDance had been put over a barrel by a U.S. law requiring divestiture. But we now know the price wasn't really $14 billion. It was $24 billion.

TikTok has finalized the deal for its US entity, with its parent company ByteDance selling majority of its stake to a group of non-Chinese investors. The deal was closed just before the Trump Administration's latest deadline, banning the app in the US unless it was divested from ByteDance, which will only retain 20 percent of the new entity. TikTok's investors will own 80 percent, with Oracle, Silver Lake and MGX, an Emirati-state owned investment firm, taking 15 percent each.

We've made significant progress in recovering our U.S. infrastructure with our U.S. data center partner. However, the U.S. user experience may still have some technical issues, including when posting new content. We're committed to bringing TikTok back to its full capacity as soon as possible. We'll continue to provide updates. Thanks for your patience.

A little more than one week ago, TikTok stepped on to US shores as a naturalized citizen. Ever since, the video app has been fighting for its life. TikTok's calamitous emigration began on 22 January when its Chinese parent company, ByteDance, finalized a deal to sell the app to a group of US investors, among them the business software giant Oracle.