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Tag: Bytedance

Tiktok Shuts Down India Business, To Downsize Workforce By 2000

New Delhi: Over the uncertainty in making a comeback following a ban on the hugely popular TikTok video app, China’s ByteDance will shut its India business and cut the 2,000-plus employees to a bare minimum, the company told employees in an internal memo on Wednesday. Tiktok’s global interim head Vanessa Pappas and vice president for […]

ByteDance Not To Sell TikTok's US Operations To Oracle: CGTN

Beijing: In an interesting development, ByteDance has reportedly said it will neither sell TikTok’s US operations to Oracle nor give the source code to any US buyers, state-owned China Global Television Network (CGTN) reported on Monday. The report came as The New York Times and other US media outlets reported on Sunday that Bytedance, the […]

After TikTok Ban, ByteDance Reaches Out To Reliance Jio For A Deal

New Delhi: As ByteDance continues to struggle in the US, a new report claimed on Thursday that China-based company that owns the short-video making app TikTok may sell its India business to Reliance Jio amid uncertainties around its operations in the country. Citing people familiar with the early-stage discussions, Tech Crunch reported that the “two […]

TikTok Owner ByteDance Starts Testing Music App Resso In India

Beijing: Chinese short video making app TikTok’s owner ByteDance Technology Co Ltd has begun testing its new music-streaming service ‘Resso’ in India and Indonesia, aiming to take on the likes of Spotify, Apple Music, Gaana, among others. Developed by Moon Video Inc. it has already inked deals with Indian labels like T-Series and Times Music […]

TikTok Owner ByteDance Unveils Its First Smartphone

Beijing: Chinese conglomerate ByteDance that owns popular short video-sharing app TikTok has finally unveiled its rumoured smartphone named Nut Pro 3 under the Smartisan brand in China, the media has reported. The device is up on sale in China for 2,899 yuan or $412. The device, also known as Jianguo Pro 3, was developed in […]

TikTok-Owner ByteDance Clocks First-Ever Profit In India

New Delhi: Chinese conglomerate ByteDance that owns popular short video-sharing app TikTok has finally been able to clock profit in India. In the financial year 2019, ByteDance registered Rs 43.7 crore in revenue and Rs 3.4 crore in net profit in India, reports Inc42.com. With over 200 million users, India is the biggest market for […]

TikTok owner ByteDance denies it will go public

Beijing: Chinese short-video making platform TikTok’s owner ByteDance has denied reports of going public in Hong Kong as early as the first quarter of 2020, media reports said. A report in Financial Times said that ByteDance, founded in 2012 and backed by investors including SoftBank, is preparing for a public listing by retaining law firm […]

TikTok parent ByteDance to set up India data centre

New Delhi: Facing pressure from the Indian government to store data within the country borders, Beijing-based ByteDance that owns the popular short video-sharing app TikTok on Sunday said it was planning to set up a data centre in India. “As a testimony to ByteDance’s recognition of India’s efforts to frame a new data protection legislation, […]

Madras High Court lifts ban on TikTok app

Chennai: The Madras High Court’s Madurai Bench on Wednesday lifted the ban on video mobile application TikTok, owned by Chinese company ByteDance, subject to certain conditions. Deciding the case filed by advocate Muthukumar, the bench vacated its interim order banning the app, subject to conditions that pornographic videos will not be uploaded on it, failing […]

TikTok's parent ByteDance plans USD 1 billion investment in India in next 3 years

New Delhi: Unfazed by the ban on TikTok in India, the popular Chinese short video app’s parent ByteDance remains “very optimistic” and plans to invest USD 1 billion in the country over the next three years. ByteDance — touted to be among the world’s most valuable startups with investors like SoftBank, General Atlantic, KKR and […]