TikTok competitors scramble for Indian market searching for those users ByteDance had to give up after getting the boot from India. Triller —an app similar to the popular video-sharing social media software at the center of a fire sale under Washington DC mandate— just doctored a deal with wealthy investors from India to step in for ByteDance and cater to those TikTok hungry fans abandoned.
Many Indian startups scrambled to step in and fill the void that TikTok left after being banned by the New Delhi government citing cybersecurity questions. That was Mukesh Ambani’s cue to step in with JioSaavn, a popular streaming music app in India with over 300 million users and partner with Triller in the push for user-generated content video sharing, the key for TikTok’s success.
Triller – JioSaavn Parent Company Wanted To Pick Up TikTok User Base
Earlier this month —prior cozying up to Triller—, Reliance, JioSaavn’s parent company courted ByteDance with aims in buying a stake in TikTok with aims to save the app’s fate after the government of India banned the app in their territory. India had the largest market for TikTok with over two hundred million users.
With similar corporate courtship, Microsoft, Oracle, and two private equity firms want to buy TikTok’s assets from ByteDance facing a forced fire sale after the Trump administration issued a mandate instructing the Chinese company to sell their assets in America. Reliance Industries Limited is an Indian multinational conglomerate with headquarters in Mumbai, Mukesh Ambani’s company has business interests with the energy, petrochemical, retail, textile and telecommunication’s sector.
Reliance Also Stakes Interests in 5G
The Indian conglomerate plans to implement their own 5G technologies and pit them against competitors the size of Nokia or Ericsson, currently, the major players in the realm of fifth-generation network telecommunications in the world, as their Chinese competitors —Huawei and ZTE— face massive sanctions, vetoes, lawsuits, and government regulation probes regarding cybersecurity, corrupt influence racketeering practices, and industrial sabotage.
As New Delhi seeks to shun Huawei, ZTE, and ByteDance from operations in its territory following Chinese provocations in the northern border of India. Mukesh Ambani is one of many Indian investors seeking to promote domestic business interests to a national population whose market represents billions of dollars’ worth of revenue in the myriad of vested interests Reliance Limited Group gambles on.
Just as companies in the IT sector of telecommunications face heavy restrictions from the US regarding visas, they seek to hire domestically to feed the growing demand for workers in that industry. The motive for the spike in job offers relies on the bids that many companies will present to the Indian government as the need for cybersecurity —in face of an increase of hostilities with neighboring communist China.v