TikTok adapts to U.S. requirements by creating a company with a U.S. majority ownership, in a file photo. Kirill Kudryavtsev/AFP via Getty Images
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.
