TikTok CEO Shou Zi Chew recently issued an internal memo updating the progress of TikTok's US business. According to the memo, ByteDance and TikTok have signed agreements with three investors and will establish a new joint venture company in the US. The new joint venture company, TikTok US Data Security Joint Venture LLC, will be responsible for data protection, algorithm security, content review, and software assurance in the US. Meanwhile, ByteDance's fully-owned entity responsible for TikTok's US operations will continue to handle e-commerce, advertising, market operations, and global interconnectivity of TikTok products. The agreements are expected to be completed by January 22, 2026, at the latest. This move aims to address concerns over data security and user privacy in the US, as TikTok has faced scrutiny in the past over its data handling practices. The joint venture is seen as a significant step towards ensuring the security and integrity of user data in the US, and it remains to be seen how this will impact the company's operations and user experience in the region.