ByteDance is said to be exploring a sale of the India operations of TikTok to rival unicorn Glance, in an attempt to resuscitate the once-thriving short video sharing app that’s been banned indefinitely in the South Asian nation.
The discussions have been initiated by Japan’s SoftBank Group conglomerate, according to sources who said talks are early and complex. SoftBank is a backer of Glance’s parent InMobi as well as TikTok’s Chinese parent, ByteDance.
The discussions involve four sides, the sources said. The talks are between SoftBank, ByteDance and Glance and any deal will need a final seal of approval from Indian authorities. India banned thousands of Chinese apps including TikTok last year following intense hostility on the India-China border.
SoftBank and ByteDance didn’t respond to emails seeking comment outside of business hours. A Glance spokesman declined to comment.
SoftBank has been attempting to salvage TikTok’s India assets and had been hunting for local partners even as the new US administration put on hold the unwinding of the American operations of the popular short video platform, asking a federal judge to pause a lawsuit after former President Donald Trump banned it.
If the talks progress, the Indian government will insist that user data and technology of TikTok stay within its borders, said the sources.
China’s new rules around export of technology make the negotiations even more intricate, and any sale of TikTok could need approval from Chinese authorities.
The dramatic reversal in TikTok’s fortunes came last summer after the app had hit over 200 million users in India, its biggest market. The Indian government cited threats to its sovereignty and security to outlaw a slew of Chinese apps such as the artificial intelligence-powered TikTok, and last month indicated the ban was permanent. ByteDance then started unwinding its local operations, firing hundreds of Indian employees, many of whom have since gravitated to homegrown rivals.
TikTok’s potential partner, Bangalore-headquartered Glance Digital Experience is a mobile content platform started by Harvard Business School alum Naveen Tewari. He is the founder of InMobi, India’s first unicorn. Glance’s short video sharing platform – 20-month-old Roposo – saw a massive growth spurt after the TikTok ban, and it became a unicorn in December after a funding round by Google and billionaire Peter Thiel’s Mithril Capital.
Dozens of short video app rivals mushroomed in India after the TikTok ban, which accelerated Glance and Roposo’s growth and pushed the user base to over 130 million.
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10 tips for entry-level job seekers
- Have an up-to-date, professional LinkedIn profile. If you don’t have a LinkedIn account, set one up today. Avoid poor-quality profile pictures with distracting backgrounds. Include a professional summary and begin to grow your network.
- Keep track of the job trends in your sector through the news. Apply for job alerts at your dream organisations and the types of jobs you want – LinkedIn uses AI to share similar relevant jobs based on your selections.
- Double check that you’ve highlighted relevant skills on your resume and LinkedIn profile.
- For most entry-level jobs, your resume will first be filtered by an applicant tracking system for keywords. Look closely at the description of the job you are applying for and mirror the language as much as possible (while being honest and accurate about your skills and experience).
- Keep your CV professional and in a simple format – make sure you tailor your cover letter and application to the company and role.
- Go online and look for details on job specifications for your target position. Make a list of skills required and set yourself some learning goals to tick off all the necessary skills one by one.
- Don’t be afraid to reach outside your immediate friends and family to other acquaintances and let them know you are looking for new opportunities.
- Make sure you’ve set your LinkedIn profile to signal that you are “open to opportunities”. Also be sure to use LinkedIn to search for people who are still actively hiring by searching for those that have the headline “I’m hiring” or “We’re hiring” in their profile.
- Prepare for online interviews using mock interview tools. Even before landing interviews, it can be useful to start practising.
- Be professional and patient. Always be professional with whoever you are interacting with throughout your search process, this will be remembered. You need to be patient, dedicated and not give up on your search. Candidates need to make sure they are following up appropriately for roles they have applied.
Arda Atalay, head of Mena private sector at LinkedIn Talent Solutions, Rudy Bier, managing partner of Kinetic Business Solutions and Ben Kinerman Daltrey, co-founder of KinFitz
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