Reliance In Talks to Strike A Deal with ByteDance To Acquire TikTok in India

Reliance is planning to acquire Indian operation o Bytedance owned company- TikTok. With the ban imposed on 59 Chinese apps including TikTok in India, TikTok is suffering a huge loss as India had second most …

Reliance is planning to acquire Indian operation o Bytedance owned company- TikTok. With the ban imposed on 59 Chinese apps including TikTok in India, TikTok is suffering a huge loss as India had second most users of Tiktok in the world with over 611 million downloads of the app in the country.

Credits- Lawstreet Journal

Reliance is in talks with Bytedance company since last month to acquire the  Indian operations of the app and relaunch the app in India. The deal is valued at $5 Billion, currently. As Reliance is one of the biggest industries of India, this deal will twist India’s online video market performance.

Reliance and Btedance have refused to give any other information regarding the deal but there are high chances that the deal will get final and TikTok will come back in India with Indian ownership after the ban of the app in June by the government on the basis of data theft and security issues.

Facebook, which holds stakes in Reliance Jio’s platform has launched a new feature on Instagram as a substitute to TikTok- Reels in India after the ban which allows users to make a short video to share with their followers.

There are no official updates when the deal will be finalized and when Tiktok will again return in Indian online market with Indian copyright.

Credits- Lawstreet Journal

Microsoft in talks to acquire Tiktok in the Us

A similar case is in the US, the US President- Donald Trump has issued an executive order mentioning the deadline for Tiktok as 15 September- either ban it or sell it.

The US-based Microsoft company is also in talks to acquire Tiktok to convert its operations into local US operations.

ByteDance’s TikTok is facing an intense situation in both India and the US with threats of getting permanently banned in the countries which consists of maximum numbers of its users.

 

 

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