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Listen to our AI-generated podcast summarizing today’s newsletter (beware of hallucinations):

1. TikTok U.S. deal set to close Jan. 22, with Oracle overseeing data protection

TikTok USDS Joint Venture LLC will be the owner of TikTok’s U.S. business, per an internal memo.
Oracle, Silver Lake, and Abu Dhabi’s MGX will be the 3 “managing investors”, collectively owning 45% of the joint venture.
The JV will oversee U.S. data protection, algorithm security, content moderation, and software assurance, the memo said.
It will also retrain TikTok’s recommendation algorithm on U.S. user data to ensure feeds are free from outside manipulation.
~$14B could be the TikTok U.S. valuation.
ByteDance signed the deal on Thu. to form the JV to avoid the U.S. TikTok ban.

2. Lovable raises $330M at $6.6B valuation, led by CapitalG, Menlo Ventures

Khosla Ventures, Accel, and EQT also participated in the round.
$200M in ARR, up from $100M in Jul.
320K paying customers.
Investment will focus on integrations with partners like Stripe and Notion and bolstering engineering.

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