Lates News

On January 23, Beijing time, TikTok announced the establishment of TikTok USDS Joint Venture LLC. This joint venture company will be responsible for data protection, algorithm security, content review, and software protection for TikTok in the United States. The announcement mentioned that Jinshan Document, Silver Lake Capital, and MGX each hold 15% of the shares in TikTok USDS Joint Venture LLC. Other investors include various companies such as Vastmere Strategic Investment LLC, a related company of Haina International Group, and Alpha Wave Partners. ByteDance will retain 19.9% of the shares and remain the largest single shareholder of the joint venture company. The joint venture company will also be managed by a board of directors consisting of seven members, including TikTok CEO Zhang Shouzi. (Yicai)