Here's what's happening right now with the US TikTok deal | TechCrunch

"TikTok, owned by the Chinese company ByteDance, has been at the center of controversy in the U.S. for four years now due to concerns about user data potentially being accessed by the Chinese government. As a result, U.S. users have often found themselves caught in the middle of this tension. Earlier this year, the app experienced a temporary outage in the U.S. that left millions of users in suspense before it was quickly restored."

"A number of investors are competing for the opportunity to purchase the app, and if a deal were to go through, the platform's U.S. business could have its valuation soar to upward of $60 billion, as estimated by CFRA Research's senior vice president, Angelo Zino. Following extensive discussions and after Trump extended the TikTok ban deadline for the fourth time, it seems that progress has been made."

"Recently, a "framework" deal was reportedly established between the U.S. and China, with new information revealed indicating that a consortium of investors, including Oracle, Silver Lake, and Andreessen Horowitz, may oversee TikTok's U.S. operations. These investors are expected to hold an 80% stake, and the remaining shares will belong to Chinese stakeholders. The new entity's board would predominantly consist of U.S. members, with one member appointed by the U.S. government."

TikTok is owned by ByteDance and has faced U.S. national security concerns about potential Chinese government access to user data for four years. The app experienced a temporary U.S. outage earlier this year and returned to the App Store and Google Play Store in February. Multiple investors are competing to buy TikTok's U.S. operations, with CFRA Research estimating a potential U.S. valuation above $60 billion. A reported U.S.-China framework would place an investor consortium — including Oracle, Silver Lake, and Andreessen Horowitz — in control with an 80% stake. The new entity's board would be majority U.S. members, with one government-appointed director. Rupert and Lachlan Murdoch, Larry Ellison, and Michael Dell were mentioned as potential participants.

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