SoftBank eyes TikTok India operations along with a bid for the video sharing app’s US business: Report
- Japanese conglomerate
SoftBankis 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.
AdvertisementJapanese 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.
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.
Checkout the full list of 118 Chinese apps banned in India
India bans PUBG, Ludo World, and 116 other Chinese mobile applications
Popular on BI
- A Trump spokeswoman mocked Pete Buttigieg's military service in a Memorial Day weekend spat with Ron DeSantis
- Family stands to lose nearly $6,000 in airfare and hotel costs after they were bumped from an overbooked cruise ship
- Flyers are 'skiplagging' to try and save money on flight tickets. Airlines hate it.
- These are must to do activities in Shimla on your next visit
- ONGC to invest ₹1 lakh cr in energy transition, targets net-zero by 2038
- List of famous things to buy in Shimla
- With Rupay Credit Card on UPI, mobile payments pioneer Paytm deepens its leadership in UPI
- Screen-sharing and usernames on WhatsApp soon: All you need to know