OdishaPlus Bureau
China-based company, ByteDance that owns the short-video making app TikTok may sell its India business to Reliance Jio amid uncertainties around its operations in the country. The two companies began conversations late last month and have yet to reach a deal.
TikTok’s business in India is being valued at more than $3 billion. The speculations come at a time when several employees working with TikTok’s parent company ByteDance are actively seeking opportunities outside the company as the platform stares at an uncertain future due the ban on the app in the country.
ByteDance has nearly 2,000 employees in India and has now put the pause button on new hiring.
Soon after Indian announced the ban on TikTok, along with 58 other apps over national security concerns, TikTok CEO Kevin Mayer who is also the COO of ByteDance said that employees are the company’s “biggest strength” and their well being its “topmost priority”.
“We have also assured more than 2,000 strong work force that we will do everything in our power to restore the positive experiences and opportunities that they can be proud of,” Mayer said in a blog, addressing the company’s India staff.
