Its proprietary Chinese company Byte Dance is set to sell its business in India after a permanent ban on short video sharing app TikTok (TikTok) in India. Tiktok had over 200 million users in India. Byte Dance is considering selling the operations of TikTok India to its rival company Glance. Let me tell you that Glance, the parent company of InMobi, the mobile content provider company. Negotiations between the two companies are underway for this deal. For this, Japan’s technology company SoftBank has started talks with Byte Dance. Let me tell you that SoftBank has a big investment in BiteDance as well as Glance.
According to a Bloomberg report, negotiations are underway between Softbank, ByteDance and Glance for the purchase of Ticketcock India and if the deal is finalized, it will have to seek approval from the Indian Authority of India. After the border dispute with China, the Indian government had banned the ban on hundreds of Chinese apps in the country citing security and privacy of users. TikTok was also included in the opting ban in Barat.
Approval will have to be taken from India and China
Let us tell you that since TikTok was banned, Softbank has been trying to revive the assets of Tiktok India and for this it is looking for a local partner. Sources associated with the matter said that if this deal happens, the government can order TicketTalk to keep the data and technology of the Indian user within the Indian border. The reason for this is that tensions between India and China remain constant and India will not allow Chinese technology companies to enter India. Apart from this, due to China’s new rules on the export of technology, this deal can also be problematic as it will also have to seek the approval of the Chinese authority on the sale of Tiktok.
Roposo became increasingly popular with the ban on TikTok
Let us tell you that Glance’s InMobi is a mobile content platform launched by Naveen Tiwari, alumni of Harvard Business School. Glance’s 20-month-old short video platform Roposo became increasingly popular after the ban on TickTalk. It was heavily funded by Google and Mithril Capital, making it a Unicorn startup worth $ 100 million.