General Atlantic owns a stake in TikTok parent ByteDance
ByteDance is exploring a deal to retain TikTok without selling its U.S. business, according to Bill Ford, a board member at the company. In that context, ByteDance could change the management of its U.S. business to make decisions that comply with U.S. law, General Atlantic CEO Bill Ford told Bloomberg. The firm owns a stake in TikTok parent ByteDance.
Meanwhile, Substack, a platform popular among independent writers, said it is setting up a $20 million fund to attract content creators from TikTok and other social media platforms.
US President Donald Trump has issued an executive order to delay the implementation of a law banning TikTok in the US by 75 days, giving the company time to find a buyer, but it is unclear whether Donald Trump has the legal authority to do so.
TikTok’s parent company, ByteDance, has publicly stated that it will not sell its platform. However, the Supreme Court’s decision to uphold a law that gave it two options: sell or close its US business could force ByteDance to change its position.
