In a report, Bloomberg News said, China’s ByteDance is exploring the sale of TikTok’s Indian operations to rival Glance, a unicorn. Negotiations, initiated by Japan’s SoftBank Group Corp, early, private, and complex, said the report citing sources people familiar with the matter at hand.
InMobi’s short-video app Roposo has gained more market share in India after the Indian Government banned the Chinese data gathering app in July, 2020. InMobi is Glance’s parent.
Neither, ByteDance, Softbank, or InMobi immediately responded to requests for comments.
Earlier in January 2020, ByteDance cut down the headcount of its 2000-plis strong Indian operations in a company memo saying, its operations in the country are uncertain.
The development comes in the wake of the Indian government retaining its decision to ban the short-video sharing app along with 58 other Chinese apps citing intrusion of privacy and non-compliance to Indian laws.
According to the report, the Indian government is likely to insist that the data of TikTok’s Indian users be stored location and that TikTok’s technology stay within its borders, if the talks were to progress.