Mukesh Ambani’s RIL to acquire TikTok in India in discussions with the parent ByteDance – Insiderfolks, ByteDance is expected to preserve its existence in India, a nation that is critical for TikTok, in talks with India’s Reliance Industries.
There are no formal words regarding the partnership of either ByteDance or Mukesh Ambani led by Reliance.
TechCrunch posted on the matter and claimed that two people associated with the transaction shared a few aspects of Reliance ‘s intention to invest in the ByteDance Project for release.
The publication reported that “ByteDance is engaged in early negotiations with Reliance Industries Ltd, the parent company of telecommunications giant Jio Platforms, to financially help TikTok’s business in India in a bid to possibly save the life of popular video applications on its largest consumer base.”
TikTok had more than 200 million subscribers until it was blocked in the country at the end of June.
According to the report, Reliance and ByteDance started discussions about the contract late last month and are still in the process of hitting the agreement.
In addition to 58 other Chinese apps, the Government of India banned TikTok a few months ago. Since then, TikTok has not been accessible in the region.
The app has been removed from both the Google Play Store and the App Store. Of now, the firm has said that it is collaborating with the Indian Government to address all problems and will be back early.
The article claimed that ByteDance would not elaborate on the matter when asked. Nor did Reliance Jio announce something about the contract.
Through engaging in ByteDance, Reliance would be able to create even stronger relations with customers. ByteDance is said to be in talks with tech giant Microsoft in the United States.
President Trump has released an executive order to prohibit any of our purchases with TikTok and WeChat.
Trump claimed that ByteDance needed to sell its US operations to an American corporation to prevent itself from getting barred in the US. Another article indicates that tech titan Twitter is still pursuing options to acquire TikTok ‘s U.S. company.
Get Breaking news, live coverage, and Latest News from India and around the world on insiderfolks.com. Catch all the updates from www.insiderfolks.com, Subscribe to our Youtube channel for more latest news updates: http://bit.ly/2neVPFM, Like us on Facebook or follow us on Twitter and Instagram for the latest news links below.
Connect with insider folks: For the more latest in news and lifestyle visit: http://insiderfolks.com/ Facebook: https://www.facebook.com/Insiderfolks/ Twitter: https://twitter.com/InsiderFolks Instagram: https://www.instagram.com/insider_folks/