The biggest US investors in TikTok’s owner ByteDance are exploring a deal alongside software giant Oracle designed to assure President Donald Trump that the viral video app is free of Chinese control.
Under the plan, existing backers of ByteDance including General Atlantic, Susquehanna, KKR and Coatue will seek to acquire additional stakes in a spun-off TikTok US business, according to multiple people familiar with the talks. Oracle would also potentially take a small holding in the business and secure the US app’s data.
These financial institutions would look to buy out Chinese investors from the TikTok US business, one of the people said.
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