ByteDance is looking for a way to bring TikTok back to India, a key market for the video social network whose popularity has exploded in recent years – in fact it is its most prolific market after China, with over 200 million users and around 2,000 employees. full time. Specifically, the company allegedly engaged in a conversation with Reliance Industries Limited, which is one of the richest companies in the whole of India.
Reliance is a conglomerate that operates in a large number of industries – it started out in synthetic polyester fabrics, then expanded into petroleum, and now also does telecommunications and the internet among other things. The sources they spoke with TechCrunch they explain that ByteDance is apparently trying to strike up a partial sale deal similar to the one it is doing in America with Microsoft – essentially selling the portion of the firm specific to that market.
But that's not the only hypothesis under consideration: in general, the goal is to have some kind of business relationship with Reliance, whose founder is on good terms with the government, even if it was just an investment. In other words, ByteDance executives seem convinced that some kind of financial involvement from Reliance will be enough to lift the ban. It is worth noting that TikTok's Indian division alone was valued at around $ 3 billion.
TikTok was banned from the Indian market, along with nearly sixty other apps of Chinese origin, a few weeks ago. The motivation is somewhat what we can define as "the usual": allegations of a threat to national security, of risk of espionage and so on. No accusation has ever been proven, it must be said, and of course ByteDance denies it. A similar fate could still suffer in the United States – or rather: it is already certain that it will, unless it finds an American buyer within a few weeks.
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