TikTok may soon become Indian, Reliance in race to buy
If this alleged deal of Reliance and Tick Talk is final then the return of Tick Talk in India is possible. It is not clear whether the company will buy India’s business completely or invest only.
After being banned from India, Tik Tok is seen preparing to reenter here. According to a report by Tech Crunch, Mukesh Ambani’s company Reliance Industries Ltd is in talks to invest in Tick Talk.
It is worth noting that since June 29, the Tick Talk app has been banned in India and along with it many other Chinese apps were banned. India is the largest market for Tick Talk after China and that is probably the reason why the company would like to do business here in some way, whether directly or indirectly.
According to the report, the two companies are in talks with Reliance and Tick Talk’s parent company ByteDance Deal since the end of last month, but the deal has not been finalized yet.
Tech Crunch quoted the sources as saying that the value of Tick Talk in India is more than 3 billion dollars. However, no statement has been issued from both the companies regarding this.
It is significant that Microsoft is preparing to buy Tick Talk in the US. The deal final is expected next month. It is worth noting that the business of Microsoft Tick Talk is being bought only for countries like America, Canada and New Zealand.
If Reliance Industries buys Tick Talk’s business in India, it will benefit both companies. In India, the ban will also be removed from Tick Talk and Reliance Jio’s dominance in the video space will also be able to be maintained.
