A recent Bloomberg report claimed that ByteDance Ltd of China could sell its operations in India to its rival InMobi Glance. The report quoted a source with information in this regard as saying that SoftBank Group Corp of Japan has started negotiations in this matter. Let me tell you that InMobi Glance is an Indian company making an app, whose short video sharing platform Roposo is already available in the market. The app gained immense popularity after TikTok was banned in India and was widely downloaded. The app has more than 30 million monthly active users. Glance’s Roposo is an Indian app and InMobi claims that the company has invested $ 145 million, or about 105 crore, by Google and Mithril Capital.
SoftBank Glance’s parent company InMobi and ByteDance both take over the company’s financial workload. The report says that currently the deal between the two companies depends on the final order of the Government of India. Not only this, because of Chinese laws, the decision of TikTok’s cell will not happen without the approval of the Chinese government. Apart from this, it is also reported that the Government of India will proceed this conversation only when the Government will be assured that the user’s data will not go out of India.
Apart from this, TikTok is the second most downloaded app in January 2021, according to the report of the app data analyzing agency Sensor Tower. Tittock received 6.2 million downloads in January. China has the highest share of 17% in these downloads. After this, the US share is 10%. However, a large user of the app is not included in it, as the app is still banned in India.
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