Thursday, August 13, 2020

Reliance Industries investment might help TikTok beat India ban | Music Ally

With so much media attention focused on TikTok’s potential acquisition and/or ban in the US, we shouldn’t forget that the app remains blocked in what was previously its biggest market: India.

Now it seems an investment may be the key to resolving that situation too. TechCrunch reported that telco Reliance Industries, fresh from raising $20bn this year from tech-company investors including Facebook and Google, is “engaging in early discussions” about an investment in TikTok’s Indian business.

The report claimed that TikTok’s Indian business is being valued at more than $3bn in the talks, which began in late July. Neither company is commenting on the claims for now.

In the US, President Trump is demanding that TikTok’s US business be acquired and completely severed from its Chinese parent company ByteDance.

In India, the demands of the government may not be as tough: could an investment from a homegrown powerhouse like Reliance be enough to get TikTok back on the app stores?

Stuart Dredge


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