TOKYO China’s ByteDance is said to be exploring the sale of the India operations of TikTok to rival unicorn Glance, Bloomberg News reported on Saturday.
ByteDance in talks to sell its Indian TikTok assets
TikTok among Chinese apps banned by India on security fears
ByteDance Ltd. is said to be exploring a sale of the India operations of TikTok to rival unicorn Glance, in an attempt to resuscitate the once-thriving short video sharing app that’s been banned indefinitely in India.
The discussions have been initiated by Japan’s SoftBank Group Corp. conglomerate, according to people familiar with the talks, who declined to be identified because the talks are private as well as early and complex.
SoftBank is a backer of Glance’s parent InMobi Pte as well as TikTok’s Chinese parent, ByteDance.The discussions involve four sides, the people said.
ByteDance explores sale of TikTok s India operations to rival firm Glance: Report
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ByteDance explores sale of TikTok s India operations to rival firm Glance: Report
Reuters / Feb 13, 2021, 15:23 IST
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TOKYO: China s ByteDance is said to be exploring the sale of the India operations of TikTok to rival unicorn Glance, Bloomberg News reported on Saturday.
The discussions, initiated by Japan s SoftBank Group Corp, are private, early and complex, the report said, citing people familiar with the matter.
Glance s parent, mobile advertising technology firm InMobi, also owns short-video app Roposo that has gained in popularity after TikTok was banned by the Indian government in July last year.