ByteDance Explores Sale of Indian TikTok Assets to Rival Firm Glance: Report
ByteDance Explores Sale of Indian TikTok Assets to Rival Firm Glance: Report
TikTok parent ByteDance reduced its 2,000-plus India team last month and said it was unsure of resuming operations.
TikTok continues to be banned in India
- TikTok was banned in India after India-China border skirmishes
- PUBG, other Chinese apps were also banned over data privacy concerns
- TikTok Parent ByteDance says unsure of resuming India operations
TikTok paret China's ByteDance is said to be exploring the sale of the India operations of TikTok to rival unicorn Glance, Bloomberg News reported on Saturday. The discussions, initiated by Japan's SoftBank Group Corp, are private, early and complex, the report said, citing people familiar with the matter. Glance's parent, mobile advertising technology firm InMobi, also owns short-video app Roposo that has gained in popularity after TikTok was banned by the government in July last year.
SoftBank is a backer of InMobi Pte as well as TikTok's Chinese parent, ByteDance, the report added. Softbank, ByteDance, and InMobi, did not immediately respond to Reuters request for a comment.
Last month, ByteDance reduced its 2,000-plus India team and said in a company memo that it's unsure of resuming operations in India.
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