Is an Australian app about to replace TikTok?

After years of concern about China’s influence on the Bytedance-owned TikTok, late last week the deal for US companies to take ownership of the US version of TikTok was closed.

The new joint venture US TikTok is led by three managing investors: Silver Lake, Oracle, and (Abu Dhabi-based) MGX. They each hold 15% of the new company. Bytedance retains just …