• About Us
  • Submit Your Story or Interview
  • Advertise with US
  • Career
  • Contact Us
  • Write For us
startup insider
  • Home
  • News & Updates
  • Startup Stories
  • Interviews
  • Press Release
  • Blog
  • Submit Your Story or Interview
No Result
View All Result
  • Home
  • News & Updates
  • Startup Stories
  • Interviews
  • Press Release
  • Blog
  • Submit Your Story or Interview
No Result
View All Result
startup insider
No Result
View All Result
Home News & Updates

TikTok May Lose Up To $6 Billion As Result Of India Ban

Harsh Verma by Harsh Verma
in News & Updates
0
Share on FacebookShare on Twitter

A Chinese news website quoted a statement of senior manager of ByteDance, which estimated a loss of $ 6 billion for TikTok as India now bans some Chinese apps. This estimated loss is more than the losses faced by other Chinese apps like UC browser, Shareit etc.

The Indian government recently closed the TikTokapp, due to the threat to the country’s sovereignty and integrity and data security. Due to data security TikTok has faced warnings from local governments in many other countries besides India. Google has banned a few Chinese apps from its Play Store, and Apple has too removed some apps from iTunes. ByteDance is an emerging technology company in China which has established itself pretty well.

On this decision of the Indian government, TikTok said that it had received an invitation from the government to discuss the ban issue. At the same time, Kevin Meyer, who recently became the new CEO of TikTok, has written a letter to the Government of India in which he has said that the data of Indian users is stored in the servers of Singapore. The company has now planned to build a data centre in India.

Kevin Meyer also stated that TikTok is not available in China despite the company being Chinese. He has also assured that the Chinese government has never asked for data from the company and neither follow any data breach in future.

Read More: Breaking: Indian Government bans 59 Chinese apps including TikTok

India is going through a process of the digital revolution, and about half of the Indian population is yet to come online. This was a golden opportunity for ByteDance to take advantage of India’s Internet boom. Ban on TikTok will affect every 3rd smartphone user in India. According to a report, TikTok, Club Factory, UC Browser and other banned apps had more than 500 million active users in May 2020. More than 25 of these 59 apps were among the top 1,000 Android apps in India in April and May this year.

Tags: 6 billiondatagovernmentindialosstiktok
ShareTweetShare
Previous Post

Breaking: Indian Government bans 59 Chinese apps including TikTok

Next Post

Reliance Market Valuation Crosses Rs 11.5 Lakh Crore-mark Due to Rise in Share Price

Harsh Verma

Harsh Verma

Related Posts

Deepika Padukone
News & Updates

Deepika Padukone Becomes First Indian Face to be House Ambassador for Louis Vuitton

May 12, 2022
Shopflo
Funding News

Shopflo, a SaaS startup for D2C brands, raises $2.6M in a Seed round

May 12, 2022
Vishakha Mulye
News & Updates

Aditya Birla Capital Appoints Vishakha Mulye As CEO

April 24, 2022
STARTUP Benefits In INDIA
News & Updates

STARTUP Benefits In INDIA

April 19, 2022
IPL 2022
News & Updates

BCCI Buys Insurance Cover Of ₹5,000 Crore For IPL 2022, The Largest For Any Sporting Event In India

April 14, 2022
Tata Neu
News & Updates

Tata’s all-in-one super-app ‘Tata Neu’ is live for all users

April 8, 2022
Next Post

Reliance Market Valuation Crosses Rs 11.5 Lakh Crore-mark Due to Rise in Share Price

Reliance & British Petroleum announce fuel retailing venture: Jio-BP

Amazon Tells Employees To Delete TikTok, Then Takes The Decision Back

Subscribe For More Update

ADVERTISEMENT
  • banksathi

    Despite Covid-19 challenges, Banksathi founders committed to their Craft

    1 shares
    Share 0 Tweet 0
  • Unique Hobbies Based Startup HOBBYHUB

    1 shares
    Share 0 Tweet 0
  • Amazon All Set To Enter India’s Food Delivery Market

    1 shares
    Share 0 Tweet 0
  • Swiggy Startup Success Story – In-Depth Analysis

    1 shares
    Share 0 Tweet 0
  • Tim Cook Confirms: First Apple Retail Store To Be Opened By 2021

    1 shares
    Share 0 Tweet 0
PU college

How to choose a good PU college for yourself

May 15, 2022
Deepika Padukone

Deepika Padukone Becomes First Indian Face to be House Ambassador for Louis Vuitton

May 12, 2022
Shopflo

Shopflo, a SaaS startup for D2C brands, raises $2.6M in a Seed round

May 12, 2022
startup insider

Startup Insider is a prominent news website which deals with startup news, stories, interview tips, gives the latest update about events and conferences. We aim to provide significant knowledge and information to the people who visit this website.

Mail : media@startupinsider.in

Phone : 91-9034408083

Categories

  • Auto
  • Blog
  • ceo Story
  • Crypto
  • Funding News
  • Interviews
  • News & Updates
  • Press Release
  • Profile
  • Startup Stories


img

Recent

  • How to choose a good PU college for yourself
  • Deepika Padukone Becomes First Indian Face to be House Ambassador for Louis Vuitton
  • Shopflo, a SaaS startup for D2C brands, raises $2.6M in a Seed round
  • About Us
  • Contact Us
  • Submit Your Story or Interview
  • Advertise with Us
  • Career
  • Privacy
  • Terms of Use
  • Write For us

© 2020 Startup Insider

No Result
View All Result
  • Home
  • News & Updates
  • Startup Stories
  • Interviews
  • Press Release
  • Blog
  • Submit Your Story or Interview

© 2020 Startup Insider