ByteDance in Talks With SoftBank, Glance to Sell its Indian TikTok Assets: Report


New Delhi: After getting banned permanently in India from playing its apps, ByteDance is said to be exploring a sale of the India operations of TikTok to rival unicorn Glance, media reports suggested on Saturday. Also Read – TikTok Star Dazhariaa Quint Dies By Suicide at 18, Posts Instagram Video Saying ‘It’s My Last Post’

Notably, the talks have already started by Japan’s SoftBank Group Corporation conglomerate. SoftBank is a backer of Glance’s parent InMobi Pte as well as TikTok’s Chinese parent, ByteDance. The talks are happening between SoftBank, ByteDance and Glance and any deal will need a final seal of approval from Indian authorities. Also Read – Koo Witnesses 4x Downloads in 6 Months, Founder Says Will Adapt Policies to Maintain Sanctity

The development comes months after India banned hundreds of Chinese apps including TikTok citing threat to India’s security and sovereignty. Also Read – PuBG, TikTok Among 266 Mobile Applications Banned By Centre Since June 2020, Informs Home Ministry

At this time, SoftBank is trying to salvage TikTok’s India assets and had been hunting for local partners even as the new US government has put on hold the unwinding of the American operations of the popular short video platform.

If the talks with the stakeholders go well, the Indian government will insist that user data and technology of TikTok stay within its borders. It is mainly because relations between New Delhi and Beijing remain strained because of the Galwan Valley incident.

After the Indian government indicated the ban on Chinese apps was permanent, ByteDance started unwinding its local operations, firing hundreds of Indian employees, many of whom have since gravitated to homegrown rivals.


Speak Your Mind

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Get in Touch

350FansLike
100FollowersFollow
281FollowersFollow
150FollowersFollow

Recommend for You

Oh hi there 👋
It’s nice to meet you.

Subscribe and receive our weekly newsletter packed with awesome articles that really matters to you!

We don’t spam! Read our privacy policy for more info.

You might also like