Tik Tok went from being loved and used by almost every youngster to being one of the 59 apps that recently got banned!
There is no doubt to the fact that Tik Tok had the most massive market in India, a market worth $10 Billion! There were more than 650 Million downloads, according to Sensor Tower data.
Microsoft is trying to pursue a deal to buy the company’s global business, including viral video operations in India and Europe.
Microsoft claimed that it was in talks with ByteDance, the Chinese owner of Tik Tok and the world’s largest start-up, to explore a purchase of the Tik Tok service in the United States, Canada, Australia, and New Zealand.
This purchase by Microsoft may help restore its fortunes by removing the brand of Chinese ownership at a time when feelings against the country have been inflamed by the clash at the Line of Actual Control.
“Tik Tok was huge in India and it worked really well. It had grown crazily and people looked forward to using it. They were unhappy when it was taken away. After WhatsApp, which would be the most valued and desired app in India? I would say Tik Tok. Tik Tok India would easily be valued at least $5-10 Billion.” Anand Lunia, a founding partner at India Quotient, claimed.
The FT reported that there was a “deal in the works” with Microsoft for Tik Tok but that if it fell through, ByteDance could sell the business to foreign or local buyers. ByteDance would then license its technology to the company and share revenue, it added. Tik Tok and Microsoft didn’t respond to queries.
Last week, Tik Tok said it had submitted its response to the Indian government’s queries and was working with it to provide clarifications and allay concerns, presumably over privacy and data-sharing issues.
The ban on Tik Tok bought unrest in its creator community. That’s when people resorted to Reels on Instagram.
Instagram might just be the new Tik Tok, but for the devoted viewers, there might never be any replacement.