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TikTok is in early talks with RIL to sell India business

Deepanker Verma August 13, 2020 Business

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We already know that ByteDance, TikTok’s parent company, is looking to sell the US, Canada, and Australia business to Microsoft. Now a new report claims that the company has approached Reliance Industries Ltd for investment in TikTok’s business in India.

TikTok has been banned by the Indian government since June 29. Since India was TikTok’s biggest market outside China, the company is looking at potential ways to come back to India.

A few reports also claim that Microsoft may also be interested in TikTok’s India operation. But Reliance seems to be a good option for the company. Mukesh Ambani is close to Prime Minister Narendra Modi, so he could help to make TikTok comeback in India if things go well.

Reliance has also raised a lot of money recently and is capable of putting enough money on TikTok or similar startups. The company has already BigBazaar, Zivame and a few other brands.

Reliance and ByteDance didn’t immediately respond to reports.

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About the Author: Deepanker Verma

Deepanker Verma is the Founder and Editor-in-Chief of TechloMedia. He holds Engineering degree in Computer Science and has over 15 years of experience in the technology sector. Deepanker bridges the gap between complex engineering and consumer electronics. He is also a a known Security Researcher acknowledged by global giants including Apple, Microsoft, and eBay. He uses his technical background to rigorously test gadgets, focusing on performance, security, and long-term value.