Why Reliance Ambani wants to buy TikTok?
Is reliance likely to acquire TikTok?
Has Mukesh Ambani bid to buy bytedance’s TikTok?
Has Reliance become top bidder to acquire TikTok?
Why Mukesh Ambani wants to acquire TikTok?
These are some pertinent questions everyone is asking?
Let’s see some reasons why Reliance is Planning to acquire bytedance’s TikTok
Hi, we have recently seen that due to border issue escalation with China, Government of India decided to ban some popular Chinese apps such as Cam Scanner, TikTok and Shein. These apps were very popular and have amassed a large following in India. So much so that we had Tiktok stars being given election ticket. These apps are worth millions & billions of dollar, with some estimate putting value of Tiktok at 75 billion Dollars.
The Indian TikTok version is being Bid by Mukesh Ambani let Reliance Industries limited for a reported value of 5 Billion Dollars.
Here are some reasons listed below as to what made Mukesh Ambani led Reliance Industries plan to buy TikTok.
1> Tik Tok had huge following in India with approx 120 Million users i.e 12 Crore People.
2> High Revenue growth. Tiktok as grown its revenue in India at a tremendous pace with last quarter of oct 2019-Dec 2019 accounting for almost 80 Crore Rupees.
3) Livelihood of many Indians. Many Indians and youngsters have started their career as Tiktokers and with their creativity started earning well
4) Due to feeling of Patriotism: We all know that Indians are good at IT and ITES, but though 1000”s of apps are being made ever year we do not have a very popular social Indian app, Perhaps this made Mukesh Ambani to think about purchasing an App like TitTok will make it as an Indian app
5) Winning Competition Since TikTok is banned in India many Indian Apps are trying to offer a replacement but aren’t as successful purchasing TikTok will set the competition straight and their domination in this sector
Mukesh Ambani had been a smart mover and a astute businessmen with acumen in making key decisions. He is now the 4th Richest man on earth. His decision to buy TikTok is purely based on his business intelligence and I am sure he is looking big gains from it.
