- Japanese conglomerate SoftBank is looking for Indian partners to place a bid for the popular video-sharing platform TikTok.
- The Masayoshi Son-led company has also been interested in the US business of TikTok.
- TikTok, along with several other Chinese apps, was banned in India in June as a retaliation to the rising tensions at the India-China border.
Japanese conglomerate SoftBank is looking for India partners to place a bid for the popular video-sharing platform TikTok, according to a
Bloomberg report.
According to the report, SoftBank has already held talks with Reliance Jio and Airtel separately, but both the avenues haven’t materialized.
SoftBank already holds a minority stake in TikTok’s parent company ByteDance. TikTok was banned in late June by the Indian government, as were 58 other Chinese apps in the middle of rising tensions at the India-China border. Since then, TikTok has reportedly been in talks to sell its India business with one of the contenders to buy it being Mukesh Ambani’s Reliance.
Transform talent with learning that worksCapability development is critical for businesses who want to push the envelope of innovation.Discover how business leaders are strategizing around building talent capabilities and empowering employee transformation.Know More Before its ban, TikTok had created mass popularity for itself in India, with a
reported 200 million users spread across Tier I, II, and III cities.
Meanwhile, SoftBank’s interests in TikTok aren’t just limited to India. The Masayoshi Son-led company has also been interested in the US business of TikTok. SoftBank was earlier a part of the consortium of Walmart and Google’s parent company Alphabet that was bidding for TikTok in the US. After the group talks fell through, it is reportedly still going ahead with the bid individually.
The Trump government has given TikTok owner ByteDance until November 12 to sell its business in the US.
Earlier in August, TikTok’s global CEO Kevin Mayer had resigned from his position. He had said that the changing political climate had also changed his role in the company, something that he hadn’t signed up for.
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