According to reports from media such as Daily Economic News and Jiemian, on January 23, Beijing time, TikTok announced that it has established TikTok US Data Security Joint Venture Co., Ltd. (TikTok USDS Joint Venture LLC).This joint venture will be responsible for data protection, algorithm security, content review and software assurance of TikTok in the United States.

The company will be led by Adam Presser, who has been appointed as CEO by the board of directors. Will Farrell will serve as Chief Security Officer. The joint venture will operate as an independent entity and be managed by a board of directors consisting of seven members, including TikTok CEO Zhou Shouzi, among which American members are in the majority.

The announcement mentioned that in TikTok US Data Security Joint Venture, Oracle, Silver Lake Capital and MGX each hold 15% of the shares. Other investors include Vastmere Strategic Investment Co., Ltd. associated with Hina International Group, Alpha Wave Partners and other companies. Among them, ByteDance retains 19.9% of the shares and remains the largest single shareholder of the joint venture.

On December 18 last year, TikTok CEO Zhou Shouzi sent an internal letter saying that ByteDance and TikTok had signed agreements with three investors and would establish a new TikTok US joint venture. The new joint venture will be responsible for data protection, algorithm security, content review and software assurance in the United States. Other entities of TikTok in the United States, fully owned by ByteDance, will continue to be responsible for commercial activities such as e-commerce, advertising, market operation, as well as the global interconnection of TikTok products.

The relevant information in this article is for reference only and shall not be used as the basis for investment decisions