ByteDance, the company that owns Tiktok, is in early discussions with Reliance Jio for investment in the video app.
According to TechCrunch, the talks started in July but are yet to reach a conclusive decision. Reliance’s investment into the app could save its access to the Indian market, after its ban in late June.
India is the app’s second-largest market after China, with over 200 million users and approximately 2,000 staff.
A deal between the two companies could not only help address security concerns by Indian government cited as the reason behind TikTok’s ban. Additionally, the investment would help Ambani’s Reliance Jio to improve appeal towards its apps in the country.
TikTok’s Indian business is valued at over $ 3 billion.
Reliance’s prospect face threats from talks between ByteDance and Microsoft. Financial Times reports that Microsoft’s deal with ByteDance extends beyond the US, Canada, Australia and New Zealand to include Europe and India.
Twitter is also reportedly eyeing the short video-sharing market. Wallstreet Journal says the company has had preliminary talks with ByteDance on a possible acquisition. Meanwhile, Twitter backed ShareChat video-sharing startup is growing its userbase in India.
READ ALSO: Microsoft Expects TikTok Acquisition Discussions to End by September 2020
