TikTok Parent Bytedance plans 1$ billion investment in India

Unfazed by the ban on TikTok in India, The Popular short video app’s parent Bytedance remains “very optimistic” and plans to invest 1$ billion in India in three three years.

Bytedance-tuted to be among the world’s most valuable startup with investor like SoftBank, General Atlantic, KKR and Sequoia on board — also offers platforms like Helo and Vigo Video in India.

Director of Bytedance Helena Lersch said that the company has been strengthening its content moderation policies over last many months.

We are obviously disappoint by the current developments, but we are also very optimistic that we will resolve this issue. We remains committed to our Indian users. And we are looking to invest $1 Billion over the next three years in India. That is how bullish we will remain to be here, she said.

Read Detail – ByteDance plans $1 billion investment in India in next 3 years

Company also trying to increasing number of employee in India to 1,000 people by the end of this year. TikTok allows users to create short videos and share them. It has more than 120 million users in India is popular among youngsters.

Also Read: TikTok Removes Over 6 Million videos

Madras high Court on April had directed the centre to ban TikTok app, saying it was evident form media reports that pornography and inappropriate content were made available through such mobile apps.

Following the Supreme Court’s refusal to stay the Madras High Court order. Tech giants Google and Apple removed TikTok from their store in India to prohibit further downloads of the app.

Those who have already downloaded the app would be able to continue using it on their phones.