A few days back Indian Government banned 59 Chinese apps including ByteDance’s TikTok. Now a report suggests that the parent company of TikTok ByteDance could lose up to $6 billion alone due to this ban in India.
At the time of the, ban in India, ByteDance had a total of three apps in the market TikTok, Helo, and Vigo VIdeo. India is ByteDance’s biggest overseas market. TikTok has more than 200 million users in India while their other apps have combined 60 million users in India. ByteDanced also planned to invest $1 billion in three years span including building the first Indian data center and creating a second corporate entity in India. ByteDance also has more than 2,000 stuff in India.
It should be noted that recently ByteDance has also announced to shutdown Vigo Video by October this year to grow other apps in India specially TikTok. This no secret that this ban has deeply affected ByteDance both economically and user base wise.
Right now TikTok has already block Indian users to comply with the order from govt. Currently, it is unknown when these apps will be available in India or even will be available ever.