1. You Are At:
  2. English News
  3. Business
  4. $6 billion: The amount TikTok's parent company ByteDance is expected to lose following India's ban

$6 billion: The amount TikTok's parent company ByteDance is expected to lose following India's ban

Chinese media outlet The Global Times on Wednesday twitted that the loss of Chinese internet company ByteDance, which is the parent company of Tik Tok, could rise upto $6 Billion after India banned 59 Chinese apps. 

India TV Business Desk India TV Business Desk
New Delhi Published on: July 02, 2020 6:52 IST
$6 billion: The amount TikTok's parent company ByteDance is expected to lose following India's ban
Image Source : AP

$6 billion: The amount TikTok's parent company ByteDance is expected to lose following India's ban

Chinese media outlet The Global Times on Wednesday twitted that the loss of Chinese internet company ByteDance, which is the parent company of Tik Tok, could rise upto $6 Billion after India banned 59 Chinese apps. 

The state-backed media outlet twitted: "The loss of Chinese internet company ByteDance – the mother company of Tik Tok — could be as high as $6 billion after the Indian government banned 59 Chinese apps including Tik Tok, following deadly border clash between Indian and Chinese troops last month."

On Monday, the government banned 59 Chinese apps amid the India-China standoff at Galwan Valley. 

The banned apps included UC Browser, Tik Tok, SHAREit, Baidu map, Shein, clash of Kings, DU battery saver, Helo, Likee, YouCam makeup, Mi Community, CM Browsers, Virus Cleaner, Apus Browser among others.

Meanwhile, Tik Tok which has a huge following in India said: "TikTok continues to comply with all data privacy and security requirements under Indian law and has not shared any information of our users in India with any foreign government, including the Chinese government."

(With inputs from agencies)

Latest Business News

Write a comment