Soft Bank sets in motion process to sell TikTok's India ops to InMobi-owned Glance

The discussions have reportedly been initiated by Japan’s SoftBank Group Corp

e4m by exchange4media Staff
Updated: Feb 15, 2021 6:18 PM
tiktok

Byte Dance is exploring a sale of TikTok's India operations to local unicorn Glance, which is owned by mobile ad tech firm InMobi. The company had recently laid off most of its India employees following a permanent ban by the Indian government.
 
According to a Bloomberg report, the discussions have been initiated by Japan’s SoftBank Group Corp. SoftBank is one of the key investors in InMobi Pte as well as ByteDance. The report further stated that the talks are between SoftBank, ByteDance, and Glance and any deal will need a final seal of approval from Indian authorities.
 
People familiar with the matter said that the Indian government will insist that user data and technology of TikTok stay within its borders as relations between New Delhi and Beijing remain strained, and India will make no allowances for China-based technology companies, they said.
 
India was among TikTok's biggest and most promising markets globally with over 200 million users. It was among dozens of Chinese apps that were banned by the Indian government following a border skirmish with China. Once the ban became permanent, Byte Dance downsized its India operations. Many of its employees have joined TikTok's local rivals.
 
Glance, a subsidiary of InMobi, had become a unicorn after raising a funding of $145 million from Google and existing investor Mithril Capital in December 2020. Glance delivers AI-driven personalized content in multiple languages including English, Hindi, Tamil, Telugu, and Bahasa on the lock screen of Android smartphones. With more than 115 million daily active users that spend 25 minutes per day, Glance is one of the largest digital consumer platforms in the world.
 
Roposo is India’s leading short-form video platform with more than 33 million monthly active users who spend 20 minutes daily consuming content across multiple genres in more than 10 languages. The Roposo app has been downloaded more than 100 million times on the Google Play Store.
 
Glance delivers trending content across entertainment, sports, fashion, news, and other content categories in a rich, visual format that is easy to consume with just a tap on the lock screen. It leverages its strategic partnership with the world’s leading Android smartphone brands to deliver this native user experience to consumers.

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