TikTok parent ByteDance to partner with Hiranandani Group and re-enter India
TikTok, a Chinese video-sharing platform was banned by the government of India, along with 58 other Chinese applications including- UC Browser, Shein, Shareit, Club Factory and more. This happened almost 2 years back over national security concerns, but it looks like TikTok is trying to make its way back to the is now looking to re-enter India and re-hire its former employees.
It is recently reported that ByteDance, the parent company of TikTok is looking to re-enter the Indian market. ByteDance is working towards joining forces with a domestic company, enabling it to get permission for the Indian market, without any governmental hurdles.
ByteDance stopped all its operations in 2021, the post being banned in India in 2020.
Believing the sources, the company looks forward to striking a partnership with Mumbai based realty major Hiranandani Group. This group runs data centre operations under the Yotta Infrastructure Solutions title and has recently launched Tez Platforms, which is a technology-led consumer services platform. It is said that ByteDance is willing to invest around INR 3,500 crore in the next years.
Though it is yet not clear if ByteDance is actually looking to partner with the Hiranandani Group’s new venture Tez Platforms or is hoping to store its data in the Yotta Infrastructure Solutions’ data centres.
To recall, for TikTok, India was one of the biggest markets and the company employed more than 2,000 people during its peak performance and demand. When the ban got reinforced, most of the employees were laid off, while some were handed other responsibilities by the company.
