A new Bloomberg report is saying that the SoftBank Group is in talks with Reliance Jio Infocomm and Airtel to bid for TikTok’s Indian arm. In earlier months it was come to know that the Reliance Industries was interested to invest in TikTok India.
To let you know that SoftBank has stakes in ByteDance, which is the parent company of TikTok. As per the report, SoftBank has taken the initiative to assemble a group of bidders to acquire TikTok India and resume the operation in the country.
The report also says that the Japanese multinational company brought Walmart in the group of investors where Alphabet was also one of the members. But this effort didn’t work as the US government wanted a US-based company to lead the process. Later, Google also came out showing no internet in the deal, and Walmart joined Microsoft to bid.
We will have to see what SoftBank ultimately do to resume the TikTok India operation here. After the TikTok ban in India, along with other 58 applications, several similar applications come to the market to fill the gap. Among them, Instagram’s Reels is one.
I already mention about a report came earlier mentioning Reliance’s interest for TikTok India. But there’s less chance for that as Jio’s music streaming platform JioSaavan already partnered with Triller, another short video making platform based in the US.
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