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New Delhi7 minutes ago
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After the border dispute in the Galvan valley of Ladakh, the central government had banned more than 250 apps in China including Tiktok, UC Web.
- Japan’s SoftBank Group is negotiating between the two companies
- The parent company of Glance operates Inmobi Roposo
Chinese giant Internet giant Baydance is exploring the possibility of selling its short video platform Ticketock’s Indian assets. According to a Bloomberg report, Bydance is in talks with its competitor platform Glance on Ticketock’s assets.
Japan’s SoftBank Group is holding talks
The report quoted sources familiar with the matter as saying that Softbank Group Corp of Japan is in talks between Bydance and Glance. This conversation is taking place in a very private way and is still in the initial stage. Glance’s parent company InMobi operates its short video app called Roposo. Roposo has become quite popular in India after the ban on Tittock in July.
Softbank invests in both InMobi-BuyDance
SoftBank Group Corp has investments in both InMobi Pte and Tytock’s parent company Baydance. However, SoftBank, Bydance and InMobi did not react to this report. Last month, Bydance fired more than 2000 employees in India. The decision was taken by the company due to uncertainty over resuming operations in India.
The government imposed a permanent ban on 59 Chinese apps, including TicketLock.
After the border dispute in the Galvan Valley of Ladakh, the central government had banned more than 250 apps in China including Tiktok, UC Web. Last month, the government permanently banned 59 Chinese apps, including TicketLock. The government had imposed a permanent ban on the issue of privacy and compliance. The report said that if the negotiations between the two companies go ahead, the Indian government will insist on keeping Ticketcock’s data and technology within the country’s borders.