ByteDance Intends $1 Billion Investment In Next 3 Years In India – Market News Wire 24
The Market News Wire

ByteDance Intends $1 Billion Investment In Next 3 Years In India

Undaunted by the outlaw on TikTok in India, the parent firm of well-known Chinese short video app, ByteDance stays “very buoyant” and aims to spend USD 1 Billion over the subsequent 3 Years in the country. ByteDance—flaunted to be among the most valuable startups in the world with investors such as General Atlantic, SoftBank, Sequoia, and KKR aboard—also provides platforms like Vigo Video and Helo in India. Helena Lersch, the ByteDance Director (International Public Policy) stated the firm has been reinforcing its content moderation policies over the past several months.

She said, “We are apparently saddened by the existing developments, however, we’re also very hopeful that we will resolve this problem. We stayed devoted to our Indian users. As a firm, we are seeking to spend USD 1 Billion in India over the subsequent 3 Years; that is how upbeat we will stay to be here.” The firm would also be boosting the employee number to 1,000 people in India by this year-end. TikTok, which enables users to make short videos and broadcast them, has a user base of over 120 Million in India and is famous among teenagers.

On April 3, the Madras High Court 3 had commanded the Centre to outlaw TikTok application, stating it was obvious from media reports that inappropriate and pornography content were made accessible via such mobile applications. After the refusal of Supreme Court to stay the Madras High Court order, the tech giants Apple and Google eliminated TikTok from their stores to forbid app’s further downloads.

Likewise, Amazon and Google are making peace to better serve users of their own streaming video platforms, the firms declared recently. In the months ahead, the certified YouTube app will get Fire TV Edition smart TVs and Amazon Fire TV devices, while the Prime Video app will get to Chromecast as well as other devices with in-built Chromecast.

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