Bytedance reportedly is in talks with Reliance Industries for investment in TikTok

• Bytedance reportedly is in talks with Reliance industries limited for investment in TikTok.
• Both of these companies began conversation late last month and have not reached a deal yet.
• Microsoft Corporation is also in talks to buy Bytedance TikTok's U.S operations.

Chinese media company ByteDance is in talks with Mukesh Ambani's Reliance Industries Limited for investment in TikTok business in India. Though earlier in July, TikTok was banned by the Indian government as a fall-out of geopolitical tensions between India and China.

After this scenario, ByteDance decided to move its headquarters from China to India to get back its TikTok business in India. ByteDance is looking for investment for their India business and reportedly is in talks with RIL for an investment.

Furthermore, Both of these companies began conversation late last month and the deal has not yet reached. According to the sources, RIL investment can back TikTok operations in India to save the popular short video app's fate in the market by its users.

According to the data, India was the biggest market for ByteDance TikTok outside of China with over 200 million users. Bytedance employs 2000+ people in the country.

Currently, the company ByteDance TikTok business is valued at $3 Billion in India, one of the sources said. If Reliance Industries acquires the TikTok India business then it may get unbanned and can save TikTok's fate in the Indian market.

According to the TechCrunch report, ByteDance did not respond to the comment on the investment. And a Reliance Industries spokesperson declined to the comment.

Moreover, ByteDance has assured its Indian employees that the company is in a conversation with the government to resolve new Delhi's concerns and does not plan to layoff employees in the country.

ByteDance is separately engaging with companies like Microsoft to sell its business in selected markets, including the U.S market. Earlier ByteDance was in talks with Apple to sell its U.S operation but Apple declined to the ByteDance offer, said, no interest in buying TikTok.

Also Read: Microsoft looking to buy TikTok’s entire global business: Report

Just after the immediate ban on Chinese apps including the video-sharing app TikTok, there is a lot of alternatives video sharing app launched by Indian content companies, this will create problems for TikTok to retain the users and their trust.

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