TikTok forms U.S. joint venture, names a CEO

The new entity's board of directors include Chew, TPG Global senior advisor Timothy Dattels, Susquehanna International Group Mark Dooley, Silver Lake co-CEO Egon Durban, DXC Technology CEO Raul Fernandez, Oracle executive vice president Kenneth Glueck, and MGX chief strategy and safety officer David Scott.

TikTok parent ByteDance will retain 19.9% of the new newly created joint venture, the company said. Silver Lake, Oracle and MGX are the new U.S. joint venture's three managing investors. Other investors include the investment firm of Dell Technologies chief Michael Dell, Vastmere Strategic Investments, Alpha Wave Partners, Revolution, and General Atlantic affiliate Via Nova, among others.

ByteDance was subject to a national security law, originally signed by former President Joe Biden, that required the Chinese tech giant to sell its U.S. operations or be effectively banned in the country. But that national security law was never enacted due to several executive orders signed by President Donald Trump throughout 2025.

Those executive orders directed the attorney general from enforcing the national security law while the app's leaders searched for a buyer.

TikTok's new U.S.-based corporate structure also helps keep sibling apps like CapCut, Lemon8 and other unspecified services and websites operational in America, the company said.

Chew revealed the name of TikTok's U.S. entity to employees in December and said it signed an agreement to form a new U.S. joint venture, CNBC reported.