TikTok returns to India! Indian company can become the owner

TikTok is banned in India and now the latest report says that Chinese app developer ByteDance may sell the India operations of its short video sharing platform to InMobi Glance company. Let us tell you that after the ban on the app (TikTok Ban) was imposed in September 2020, the Government of India had recently banned TikTok permanently. It is likely that the decision of this permanent ban may have forced ByteDance to make this plan.

Bloomberg’s latest report claims that China’s ByteDance Ltd may sell its operations in India to its rival InMobi Glance. Citing a source with knowledge in this regard, the report said that Japan’s SoftBank Group Corp has started talks in this matter. Let us tell you that InMobi Glance is an app making Indian company, whose short video sharing platform Roposo is already available in the market. After TikTok was banned in India, the app gained immense popularity and was downloaded on a large scale. The app has more than 3 crore monthly active users. Glance’s Roposo is an Indian app and InMobi claims that Google and Mithril Capital have invested $145 million i.e. around Rs 105 crore in the company.

SoftBank handles the finances of both Glance’s parent company InMobi and ByteDance. The report says that at present the deal between the two companies is dependent on the final order of the Government of India. Not only this, due to Chinese laws, the decision to sell TikTok will not be taken without the approval of the Chinese government. Apart from this, there is also news that the Indian government will take this conversation forward only when the government is assured that the user’s data will not go out of India.

Apart from this, let us tell you that according to the report of Sensor Tower, an app data analyzing agency, TikTok is the second most downloaded app in January 2021. TikTok got 62 million downloads in January. China has the highest share in these downloads at 17%. After this, America’s share is 10 percent. However, a large user base of the app is not covered because the app is still banned in India.