ByteDance in Talks With Reliance for Investment in TikTok: Report

TikTok Grab Could Extend -- or Undermine -- US Online Dominance

China’s ByteDance is in early talks with Reliance Industries for an funding in its video-based app TikTok’s enterprise in India, TechCrunch reported on Thursday, citing sources.

The two corporations started conversations late final month and haven’t reached a deal but, based on the report.

Reliance, ByteDance, and TikTok didn’t instantly reply to Reuters requests for remark.

The Indian authorities in June banned 59 Chinese apps, together with TikTok and WeChat, for threatening its “sovereignty and integrity” after border tensions with China.

Last week, US President Donald Trump unveiled bans on US transactions with the China-based homeowners of messaging app WeChat and TikTok, escalating tensions between the 2 international locations.

Microsoft has been in talks to accumulate the US operations of the video-sharing app.

Social media platform Twitter has additionally expressed interest in having a cope with TikTok, sources conversant in the matter informed Reuters late final week.

© Thomson Reuters 2020

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