TikTok said on Jan. 22 it has formed an American majority-owned joint venture that would oversee data security and the content ecosystem in a bid to maintain its operations in the United States.
TikTok USDS Joint Venture LLC will operate as an independent entity overseen by a seven-member board of directors that includes TikTok CEO Shou Chew, Silver Lake co-CEO Egon Durban, Oracle executive vice president Kenneth Glueck, among others, according to a statement.
“The majority American owned Joint Venture will operate under defined safeguards that protect national security through comprehensive data protections, algorithm security, content moderation, and software assurances for U.S. users,” TikTok said in the statement….
TikTok Announces Formation of US Majority-Owned Joint Venture to Prevent Ban
