Reliance may buy TikTok in India for $5 billion

New Delhi: Billionaire Mukesh Ambani is reportedly in the primary stage of assessing the possibility of investing in short-form video-sharing app TikTok’s India operations. On June 29, TikTok along with 58 other apps was banned in India over national security and data privacy concerns.

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Both the companies had started their discussion in July but the final decision is yet to be taken. There has been no official statement released yet. Experts believe the combined power of TikTok and RIL’s Jio Platforms can really do wonders for Mukesh Ambani’s plan to revive RIL into a technology-driven company.

TikTok India had over 200 million subscribers and the company was valued at $3 billion.

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