According to Reuters, ByteDance agreed to divest TikTok's US business, which means ByteDance will completely withdraw, and Microsoft will take over TikTok in the United States. Microsoft will be responsible for protecting all US user data, and the plan allows another American company besides Microsoft to take over TikTok in the United States.

The source also said that some of ByteDance’s investors based in the United States might have the opportunity to obtain a minority stake in the business.