It appears like ByteDance is talks with loads of firms today, making an attempt to promote their widespread TikTok app earlier than it will get utterly banned from main markets. Earlier this month, Microsoft was reportedly in talks with ByteDance to buy TikTok’s international operations, and now, Reliance can be in talks to put money into TikTok’s India operations.
TikTok was banned from working in India by the Authorities on June 29th, citing safety considerations over TikTok’s information assortment practices. TikTok and its proprietor, Bytedance, denied all of those considerations, claiming that they adopted all information laws legal guidelines. The scenario for TikTok grew to become worse when the US Authorities banned all US transactions with ByteDance after September 20th.
In response to the report, TikTok’s India operation is valued at practically $3 Billion and Reliance has been trying to strike a cope with ByteDance. It’s unclear whether or not Reliance is trying to purchase a partial stake in TikTok or purchase the whole India division. In case a deal does work out between the 2 events, there’s a likelihood of the Indian Authorities repeal its ban of TikTok.