ByteDance in talks with Reliance for investment in TikTok

ByteDance  is in talks with Reliance  Industries Limited, for financially backing TikTok’s business in India in a move to potentially save the popular video app’s fate in its biggest market by users.

The two companies began conversations late last month and have yet to reach a deal, the sources said, TikTok’s  business in India, where it had amassed over 200 million users before it was banned in late June, is being valued at more than $3 billion, one of the sources said.

4 views0 comments
  • Amazon Social Icon
  • Facebook Social Icon
  • LinkedIn Social Icon
  • Twitter Social Icon
  • Instagram

© 2021 by StartupNews. Proudly created in India