ByteDance, the company behind one of the world’s most popular social media app TikTok, is setting up another corporate entity in India. This is the second endeavor in India from the Chinese multinational corporation, which is looking to broaden its horizons in the Southeast Asian country.
At the moment, India is also one of ByteDance’s key markets, with many TikTok users originating from this region. Sources have claimed that the company is now looking to expand to the IT sector by providing information technology related and other similar services to all of ByteDance’s other platforms across the globe as well as India.
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ByteDance owns two popular social media platforms including the short video sharing app TikTok and Helo apps. The company also owns content discovery platforms like Toutiao and Douyin, which are the Chinese counterparts of TikTok and Xigua Video as well. Furthermore, this new corporate entity will reportedly be responsible for including content generated from all of these platforms.
According to one source, “There will be data and technology transfer into India with ByteDance looking to ramp up its workforce in India, a market where the company will look to create a center of excellence over the near-term.” In other words, an expansion in the Indian market where it already has 611 million downloads of its TikTok app alone.
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(Via)
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