TikTok is finally coming home

After what were described as high-stakes talks in Madrid, President Trump and the Chinese have seemingly fashioned a deal that will please both parties when it comes to TikTok.

Whether users are watching Chinese factories shuck garments or consuming soft-core pornography via the platform's top star, a TikTok ban is not popular among American consumers, content creators, or activists.

'I've reached a deal with China, I'm going to speak to President Xi on Friday.'

After seemingly working for months to get a deal done that would not only limit the exposure of Americans' data to foreign adversaries but keep the app alive for the doom scrollers, Trump announced this week that his discussions with China have gone "VERY WELL."

"The big Trade Meeting in Europe between The United States of America, and China, has gone VERY WELL!" the president wrote on Truth Social Monday.

He continued, "It will be concluding shortly. A deal was also reached on a ‘certain’ company that young people in our Country very much wanted to save."

According to insiders, American companies will finally have a stake in the massive app.

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While a U.S. buyer has not been officially identified, the Wall Street Journal has reported through unnamed sources that a group of buyers could include Oracle, Silver Lake, and Andreessen Horowitz.

Oracle is a software company, Silver Lake is a private investment firm, and Andreessen Horowitz is a venture capital firm.

The consortium would control TikTok's stateside business with 80% ownership, and existing American TikTokers would be asked to move their viewership or content to a new app that is reportedly being tested.

Oracle will allegedly be responsible for housing user data in Texas, which is a long flight from the usual data mines of Singapore, where TikTok parent ByteDance stores some of its U.S. data.

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Photo by Li Hongbo/VCG via Getty Images

"We have a deal on TikTok, I've reached a deal with China, I'm going to speak to President Xi on Friday to confirm everything up," Trump told reporters as he left the White House this week, per the BBC.

As for China's side of the deal, deputy head of China's cyberspace administration, Wang Jingtao, said that part of the agreement includes "licensing the algorithm and other intellectual property rights."

"The Chinese government will, according to law, examine and approve relevant matters involving TikTok, such as the export of technology as well as the license use of intellectual property," the Chinese official added.

According to CNBC, the deal is expected to close in the next 30 to 45 days.

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