Chinese company preparing to move out of China
Tiktok banned in India: Ticketcock’s parent company ByteDance has suffered a lot due to the ban in India. ByteDance is considering moving the TicketTalk headquarters out of China to avoid controversy.
Tiktok banned in India: After being banned in India, a ban on TikTok is being sought in the US. In such a situation, Tytock’s parent company ByteDance is considering changing the company’s corporate structure. According to a Wall Street Journal report, ByteDance Management is considering creating a separate management board for TickTock and moving its headquarters out of China.
Ban decided due to the privacy of users
Recently, when the Indian government decided to ban 59 Chinese apps, including TicketTalk, the government said that this has been done keeping in mind the privacy of users. Meaning these apps were accused of data sharing. However, it has been consistently argued by Ticketock that data storage is being done in Singapore. Also, the Chinese government never talked about data sharing nor will the company ever do so.
Data security first priority
ByteDance Management here says that we do not tamper with users’ data and data privacy and security is our first priority.
200 million registered users
There are around 200 million registered users on TicketTalk in India. There are about 12 crores, active users, every month. Since launch, this app has been downloaded 66 million times in India till now. Bytdans has employed over 2000 people in India.
Loss to hundreds of crores byteadance
The company has lost hundreds of crores due to the ban in India. According to a report, the ban will cause Ticketock to lose at least $ 6 billion. In the name of data security and data privacy, it is possible that in the coming days, the company will have to face a similar phenomenon in other countries. In such a situation, the company has started working on the option of a new hideout for itself in time.
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