Monday, August, 08, 2022 09:38:18

ByteDance in talks to sell TikTok’s India operations to rival Glance

ByteDance, a multinational internet technology company, is reportedly exploring possibilities to sell TikTok’s India operations to its rival and screen zero platform, Glance.

The talks regarding the potential sale of India operations, which are currently in the initial phase, have been initiated by Japan’s SoftBank. The parent company of Glance and mobile advertising technology company, InMobi, also operates Roposo, a video-sharing social media platform. This platform has been witnessing a significant adoption across the region, as the South Asian nation had introduced a ban on the adoption of TikTok in July 2020. InMobi and ByteDance, TikTok’s Chinese parent company, are also backed by SoftBank.

InMobi, ByteDance, and SoftBank did not immediately respond to requests for comments on the upcoming deal. As per reports, the Indian government is expected to insist that the technology and user data of TikTok stay within the borders, following the anticipated progress of the ongoing discussion.

ByteDance’s plans to sell India’s operations happened along the heels of the announcement by the Ministry of Electronics and Information in India to impose a permanent ban on TikTok as well as 58 Chinese apps. This news has also extended the restrictions that were introduced in June 2020 over compliance and privacy concerns.

In response to this announcement, ByteDance has reduced the size of its team in the country, where the company had above 2,000 employees. Due to this, Beijing accused India of violating the basic market principles as well as the World Trade Organization’s rules.

Economic and diplomatic ties between China and India have worsened after the military clash with Chinese troops high up in the Himalayas in June, which martyred 20 Indian soldiers including the commanding officer. This violent clash has led to an apprehension towards Chinese products that has spread across social media in India.

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