comscore Reliance Jio might invest in TikTok, early discussions with ByteDance
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Reliance Jio might invest in TikTok, early discussions with ByteDance going on: Report

TikTok's business in India "is being valued at more than $3 billion". ByteDance or Reliance Jio were yet to comment on the report.

  • Updated: August 13, 2020 1:38 PM IST
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As ByteDance continues to struggle in the US, a new report claimed on Thursday that China-based company that owns the short-video making app TikTok may sell its India business to Reliance Jio amid uncertainties around its operations in the country. Also Read - Instagram Reels gets support for longer videos, easy mobile edits

Citing people familiar with the early-stage discussions, TechCrunch reported that the “two companies began conversations late last month and have yet to reach a deal”. Also Read - Jio Postpaid Plus detailed: Free OTT apps subscription, data rollover, free in-flight Wi-Fi and more

TikTok’s business in India “is being valued at more than $3 billion”. ByteDance or Reliance Jio were yet to comment on the report. Also Read - PUBG Mobile could return soon with Jio Platforms, talks yet to finalize

The speculations come at a time when several employees working with TikTok’s parent company ByteDance are actively seeking opportunities outside the company as the platform stares at an uncertain future due the ban on the app in the country.

ByteDance has nearly 2,000 employees in India and has now put the pause button on new hiring. Soon after India announced the ban on TikTok, along with 58 other apps over national security concerns, TikTok CEO Kevin Mayer who is also the COO of ByteDance said that employees are the company’s “biggest strength” and their wellbeing its “topmost priority”.

Watch Video: 5 smart wearables with dedicated SpO2 monitor in India

However, these assurances appeared to be not enough to calm the minds of many of the company’s anxious employees. Their worries mounted after the platform faced threat of a similar ban from the Donald Trump administration in the US even as Microsoft disclosed plans to buy TikTok service in the US, Canada, Australia and New Zealand by mid-September – a deadline set by the US President.

Written with agency inputs

For the latest tech news across the world, latest PC and Mobile games, tips & tricks, top-notch gadget reviews of most exciting releases follow BGR India’s Facebook, Twitter, subscribe our YouTube Channel.
  • Published Date: August 13, 2020 12:09 PM IST
  • Updated Date: August 13, 2020 1:38 PM IST



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