Reliance likely to acquire TikTok in India for $5 billion

BENGALURU: India’s most valuable company Reliance Industries Limited (RIL) is reportedly the latest bidder for the Bytedance-owned TikTok in India.

The Mukesh Ambani-led firm had begun talks last month with the Chinese firm to acquire its operations in India. The deal is said to be valued at $5 billion.

India is the largest market for the short video app outside China with more than 611 million downloads generated till date, according to data sourced from market intelligence firm Sensor Tower. However, when it comes to monetization, China, US and UK accounted for 90% of the total TikTok revenues.