Microsoft is making all the efforts to take over the Chinese short video application, TikTok for global business including India, as reported by the Financial times on Thursday. According to one investor, the value of the TikTok India business is estimated to be $10 billion.
TikTok which is hailed as the largest startup of the world is owned by ByteDance and the owner of the company is already in talks with Microsoft and is negotiating for a business deal. The conversation between the two was about Microsoft taking over the TikTok services in the USA, Canada, Australia, and New Zealand.
After the conversation, Microsoft proposed another deal to own all the operations of TikTok in all the countries that also includes India. TikTok does not operate in China currently and that is why the deal is not extending to the sister app of TikTok named Douyin.
According to the reports, India was the biggest market of TikTok and since the time it is banned in India because of privacy concerns, the company is facing a huge loss. There were more than 650 million users of the application in the country but it got banned in June by the government.
Anand Lunia who is a founding partner at Indian Quotient said, “TikTok was huge in India and it worked really well. It had grown crazily and people looked forward to using it. They were unhappy when it was taken away. After WhatsApp, which would be the most desired or valued app in India? I would say TikTok. TikTok India would be valued at least $5-10 billion in India.”