Small Business

Triller’s TikTok bid will exclude India unit

NEW DELHI: Los Angeles-based social video app Triller’s bid to acquire TikTok is focused on the Chinese short-videos platform’s US business and does not include India, a key investor in the company told ET. About a week ago, Triller’s executive chairman Bobby Sarnevesht said the company — along with Centricus Asset Management — had offered $ 20 billion for TikTok’s assets.

ByteDance — which owns the once popular platform now banned in India — denied knowledge of the offer though.

“I know that a $ 20 billion bid has been made by Triller along with Centricus Asset Management for the TikTok US business. We understand that the focus for the bid is TikTok US and it doesn’t include India,” said Anis Uzzaman, general partner and CEO of Pegasus Tech Ventures, whose other portfolio companies include Elon Musk founded SpaceX and online vacation rentals platform Airbnb.

Pegasus Tech Ventures and Lowercase Capital are the two major early investors in Triller, which is owned by Hollywood producer Ryan Kavanaugh and Sarnevesht’s Proxima Media. Sarnevesht told ET last month that Triller, which was launched in India in the first week of July, has been downloaded about 40 million times from Google Play Store and Apple App Store in the country. “With the ban on TikTok, Triller was one of the top video sharing apps on the app store in India. I’m sure it will keep growing organically in the country,” Uzzaman added. Triller declined to comment. An email to ByteDance went unanswered till the time of going to press.

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Small Biz-Economic Times

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