Netease Technology News on August 13, according to foreign media reports, according to two people familiar with the matter, India’s richest man Mukesh Ambani's Reliance Industries (Reliance Industries) is negotiating with ByteDance. Invest in the Indian business of short video app TikTok (TikTok overseas version). India is the largest user market for this popular video application, and this move may help save its fate.

People familiar with the matter said that the two companies began negotiations at the end of July and have not yet reached an agreement. It is reported that TikTok's Indian business is valued at more than US$3 billion. Before being banned in late June, TikTok had accumulated more than 200 million users in India. ByteDance did not respond to reporters' request for comment. Reliance Industries said it would not comment on speculation and rumors.

The investment in TikTok may help Reliance Industries build deeper connections with consumers. Reliance Industries is the most valuable company in India. Its subsidiary, Indian telecom giant Jio Platforms has accumulated nearly 400 million users in India in less than four years, but its consumer-oriented applications have always been difficult to replicate this appeal.

Since late April this year, Jio Platforms has raised approximately US$20 billion from 13 well-known investors including Facebook and Google. Google said that it will invest in cooperation with Jio Platforms to launch a customized version of the Android mobile operating system to provide power for low-cost Android smartphones. Facebook said it will cooperate with Reliance Industries to help India's 60 million small and medium-sized enterprises achieve digitalization.

The initial negotiations between the two companies come as ByteDance is trying to retain certain key employees in India. In recent weeks, several senior executives have left the company, including a policy director and Rohan Mishra, who is in charge of Helo App India's operations.

Earlier this month, Microsoft confirmed that the company is in separate negotiations with ByteDance to acquire TikTok's US business. It is also reported that the two companies have expanded the scope of the transaction, and Microsoft hopes to include TikTok's businesses in other markets such as Europe and India.

Any transaction with Reliance Industries may help ByteDance ease the concerns of the Indian government. The Indian government banned TikTok and 58 other applications developed by Chinese companies in late June, citing security threats. (Little)

Source: NetEase Technology Report, translated by Google Translate