According to a report by the Financial Times, the Seattle-based tech company wants to buy TikTok’s global business operations. Sources familiar with the matter told FT that a “deal is in works” for Microsoft to buy TikTok India. However, if it falls through, Bytedance might look for foreign or Indian investors. The Chinese tech giant would also look to license its technology and share revenue with new investors. Last month, India banned TikTok and 58 other Chinese apps after a skirmish at the border between the two nations. The country was the short video app’s biggest market before the ban with over 200 million active users. After TikTok’s ban, a swarm of short video apps has emerged in the market including local products such as Chingari, Roposo, Moj, and Mitron, and international apps such as Triller and Instagram Reels. However, there’s no clear winner or leader in the segment at the moment.
