China’s social media giant ByteDance is said to be exploring the possibility of a sale of the India operations of TikTok to rival unicorn Glance according to a Bloomberg News report.
The talks, initiated by Japan’s SoftBank, are currently in the initial phase, according to people familiar with the matter, as cited by Bloomberg.
Glance’s parent company, mobile advertising technology firm InMobi, also operates video-sharing social media platform Roposo, which has boomed in India after the South Asian nation introduced a ban on using TikTok last July. SoftBank is reportedly a backer of InMobi as well as of TikTok’s Chinese parent, ByteDance.
However, an official confirmation about the recent developments is yet to come.
The step comes just months after India’s Ministry of Electronics and Information imposed a permanent ban on TikTok and 58 other Chinese apps, extending restrictions introduced last June over compliance and privacy concerns.
In response, ByteDance reduced the size of its team in India, where the corporation had employed more than 2,000 people. Beijing, in turn, accused India of violating basic market principles and the rules of the World Trade Organization.
Diplomatic and economic ties between the two Asian powers have worsened after 20 Indian soldiers including their commanding officer were martyred in a military clash with Chinese troops in the Himalayas in June. Since then, a “Boycott China” sentiment has spread across Indian social media.
According to the report, the Indian government will insist that the user data and technology of TikTok stay within its borders if the talks progress.
