TikTok officially announces the US plan, with two companies operating together, ByteDance retaining algorithm intellectual property rights.

On January 23, Beijing time, TikTok announced that it has established TikTok US Data Security Joint Venture Limited Company. This joint venture company will be responsible for data protection, algorithm security, content moderation, and software protection in the US for TikTok. The announcement mentioned that in the TikTok US Data Security Joint Venture company, Jinwen, Silver Lake, and MGX each hold 15% of the shares. Other investors include various enterprises such as affiliated company Vastmere Strategic Investment Limited Liability Company of HanNa International Group, Alpha Wave Partners, among others. ByteDance will retain 19.9% of the shares, remaining the largest single shareholder of the joint venture company. The joint venture company will also be managed by a seven-member board of directors, including TikTok CEO Zhang Yiming.