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Home Gadgets ByteDance explores sale of Indian TikTok assets to rival firm Glance: Report

ByteDance explores sale of Indian TikTok assets to rival firm Glance: Report


China’s ByteDance is alleged to be exploring the sale of the India operations of TikTok to rival unicorn , Bloomberg News reported on Saturday.

The discussions, initiated by Japan’s SoftBank Group Corp, are non-public, early and complicated,
the report said, citing folks conversant in the matter.

Look’s mum or dad, cellular promoting know-how agency InMobi, additionally owns short-video app Roposo that has gained in recognition after TikTok was banned by the Indian authorities in July final yr.

SoftBank is a backer of InMobi Pte in addition to TikTok’s Chinese language mum or dad, ByteDance, the report added.

Softbank, ByteDance and InMobi, didn’t instantly reply to Reuters request for a remark.

Final month, ByteDance diminished its 2,000-plus India crew and stated in an organization memo that it is not sure of resuming operations in India.

The transfer got here after India determined to retain its ban on TikTok and 58 different Chinese language apps following responses from the businesses on points resembling compliance and privateness.

In line with the report, the Indian authorities will insist that consumer information and know-how of TikTok keep inside its borders if the talks progress.

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