ByteDance is mounting to set up an entity for the second time in India, knowing it is Asia’s third largest economy. As the China based multinational company in internet and technology looks forward to stick in the Indian market for long. According to multiple sources, the company is likely to provide Information Technology and IT-enabled support services to all of ByteDance’s platforms worldwide, including in India.
It will also focus on generating content across its various mediums, basically the crucial matters that the startup has been facing across different geographical areas. An email sent to ByteDance spokespersons in India, on Saturday evening, did not obtain any reply till the time of reaching to press
It was expected out byteDance, to formally file an application with the government and regulators, including the Department for Promotion of Industry and Internal Trade in coming few weeks. At this moment, it operates as ByteDance India Services Ltd in the country.
The company, which dominates a secondary private market estimation of about $110 billion, owns and operates popular short-form mobile video apps like TikTok and social media platform Helo.