It is said that India’s richest man’s company plans to invest in tiktok’s business in India: estimated at over $3 billion

On August 13, according to foreign media reports, according to two people familiar with the matter, Reliance Industries Group, owned by Mukesh Ambani, India’s richest man, is negotiating with byte hop to invest in tiktok’s Indian business. India is the largest user market for the popular video app, a move that could help save its fate. The two companies began negotiations at the end of July and have yet to reach an agreement, according to people familiar with the matter. It is understood that tiktok’s Indian business is valued at more than $3 billion. Before being banned in late June, tiktok had accumulated more than 200 million users in India. Byte skipping did not respond to a request for comment. Reliance Industries said it would not comment on speculation and rumors. < / P > < p > the investment in tiktok may help Reliance Industries build deeper ties with consumers. Reliance Industries is the most valuable company in India. Its subsidiary, Ji platforms, an Indian telecom giant, has accumulated nearly 400 million users in India in less than four years, but its consumer oriented applications have always been difficult to replicate this attraction. < / P > < p > since late April, Jie platforms has raised about $20 billion from 13 well-known investors, including Facebook and Google. Google said it would invest in and launch a customized version of Android mobile operating system in cooperation with Ji platforms to provide power for low-cost Android smart phones. Facebook said it would work with Reliance Industries to help India’s 60 million small and medium-sized enterprises digitize. < / P > < p > the preliminary negotiations between the two companies come as byte hop is trying to retain some of its key employees in India. In recent weeks, several senior executives have left the company, including a policy director and Rohan Mishra, who runs the helo app in India. < p > < p > earlier this month, Microsoft confirmed that it was in separate negotiations with byte hop to acquire tiktok’s US business. It is also reported that the two companies have expanded the scope of the deal, and Microsoft hopes to include other markets such as tiktok in Europe and India. < / P > < p > any deal with reliance industries could help ease the Indian government’s concerns. In late June, the Indian government banned tiktok and 58 other applications developed by Chinese companies, citing security threats. < p > < p > on August 12, according to the Indian media economic times, byte skipping has frozen the recruitment work in India and reassigned the work of some senior local managers. Some employees want to leave the Chinese company because they are concerned about the possible negative impact of working for a Chinese company after the Sino Indian border conflict, according to the report. < p > < p > byte skipping has about 2000 employees in India. At present, byte skipping is discussing with Microsoft and twitter about selling business in tiktok USA. during this period, byte skipping seems to want to retain these employees in India. According to people familiar with the matter, byte jump has not officially laid off employees in India, and the company stressed to employees through internal communication that the situation was stable. < / P > < p > at the end of June, the Indian government announced that 59 Chinese applications were banned for “security” reasons, with byte skipping tiktok and helo listed. The former is byte hop’s short video platform focusing on overseas markets, while the latter is the Indian Head social media platform launched by byte hop. < / P > < p > in April 2019, byte hopping announced that it would invest US $1 billion in the Indian market in the next three years. In July of the same year, byte skipping announced that it would establish a data center in India to store Indian user data locally. Previously, in order to comply with Indian law, Indian users’ data were stored in industry-leading third-party data centers such as the United States and Singapore. Public information shows that byte hopping has employed more than 2000 local full-time employees in India. According to sensor tower, a mobile application analysis company, tiktok had 112 million downloads in May this year, 20% of which came from India, double the U.S. market. < / P > < p > after the product was banned in India, a person familiar with the matter disclosed that in the past few years, byte hop’s investment in India exceeded US $1 billion, and now almost all of its products have failed in the Indian market, resulting in a loss of more than $6 billion. He said the amount is likely to exceed the total losses of all other banned companies. < p > < p > according to India’s report on the 4th, a senior Indian government official familiar with the matter said that Microsoft’s negotiation to acquire tiktok’s U.S. business would not affect the ban tiktok faces in India, because the above-mentioned acquisition negotiations do not include local operations. < p > < p > on the evening of June 29 local time, the Ministry of electronics and information technology of India issued an announcement announcing that 59 applications from China were banned, including tiktok, wechat, microblog, baidu map, UC browser, etc. The reason given by the Indian government is that these applications “harm India’s sovereignty, national defense, national security and public order.”. Continue ReadingStraight screen S20! Samsung Galaxy S20 Fe exposure: 1Hz high brush + snapdragon 865