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TikTok parent company Bytedance could lose up to $6bn after India’s app ban: Report
Team Udayavani, Jul 3, 2020, 1:00 PM IST
Indian Government has banned 59 Chinese apps which includes Byte dance’s Tiktok, Vigo Video and Helo apps due to which Bytedance could lose up to $6bnv.
Sources claim, the company had invested more than $1 billion in the Indian market, and the ban could virtually halt ByteDance’s business and cause a loss as high as $6 billion
It is said that TikTok was downloaded 112 million times in May, with 20 per cent of that total in the Indian market
However, India decided to ban the apps as they received complaints from various sources that these apps were misusing user data and transmitting them to servers outside India.
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