The parent Bytedance does, and their Chinese equivalent is Taiotao. Even the TikTok data servers exist in South Korea.
This is an important distinction because there has been zero proof that TikTok is spying or is a tool for China, despite clickbait articles, memes, and accusations existing. This is the first time TikTok is being used observed to be used for government political censorship... And in Russia of all places.