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.
Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.
Top News
Related Articles More
Freebies or better amenities, choice rests with citizens: Panagariya
India’s GST world’s ‘worst’ tax regime, middle class contributing to govt’s revenue collection: Cong
Cybersecurity firm Rubrik announces new office in Bengaluru as part of expansion plans in India
MakeMyTrip introduces part payment option for international flight bookings
MRPL signs MoU with ISPRL for crude oil storage
MUST WATCH
Latest Additions
Delhi Police arrests two sharpshooters of Nandu Gang from Bangalore
Freebies or better amenities, choice rests with citizens: Panagariya
Chhattisgarh: Two labourers injured in accident at smelting plant; many others feared trapped
Delhi: Man arrested for brandishing gun during social media live video
Bank officers’ union threatens to call on two-day nationwide strike
Thanks for visiting Udayavani
You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.