TikTok’s parent company, ByteDance is in talks with India’s Reliance for investment in the short-video sharing app, reports said on Thursday.
According to the report, The two companies began conversations late last month and have not reached a deal yet.
Reliance, ByteDance and TikTok did not immediately respond over this matter.
The Indian government in June banned 59 Chinese apps, including TikTok and WeChat, for threatening its “sovereignty and integrity” after border tensions with China.
A senior executive at TikTok owner ByteDance said the company plans to invest a large amount of capital into its newly-established education technology business.
The company warned that the unit will somehow profit in the next three years.
Beijing-based ByteDance has made education technology one of its top priorities alongside video app TikTok.
Senior vice president at ByteDance, Cheb Lin, said that the company entered the education technology sector in 2016 via investments and trying out various projects, according to a transcript published by the company on social media.
ByteDance operates one-on-one English tutoring app GoGoKid and online course livestreaming app Qingbei.
