TikTok has reached a deal to create a joint venture that lets it keep running in the US after five years of threats to ban the app. ByteDance, TikTok's Chinese owner, signed the deal with Oracle, Silver Lake, and Abu Dhabi’s MGX. This new venture will manage TikTok's US data protection, algorithm security, and content moderation. TikTok’s CEO Shou Zi Chew told employees ByteDance will still handle major parts of US operations like e-commerce and advertising. The deal ends a long battle over TikTok’s US future, where it has over 130 million users. In 2020, then President Trump ordered TikTok to be banned, citing national security risks. The US claimed ByteDance could use TikTok to collect American data for the Chinese government, but ByteDance denied this. President Biden’s administration pushed laws to block ByteDance from running TikTok’s US side. The new joint venture will be partly owned by Oracle, Silver Lake, MGX, and ByteDance under US foreign ownership limits. Oracle, Silver Lake, and MGX each get 15%, existing investors get 30.1%, and ByteDance keeps 19.9%. The joint venture’s board will mostly consist of Americans. Oracle will control the US TikTok algorithm and retrain it with US data to avoid foreign influence. China will keep rights to the algorithm but will not run US operations. The deal is expected to close on January 22, right before Trump’s deadline for banning the app. The agreement’s value is $14 billion. Senator Elizabeth Warren criticized the deal, warning it gives more media power to pro-Trump billionaires like Oracle’s Larry Ellison.