For Its Big Push Into India, ByteDance Is Targeting Content Startup Deals

Harin - Jul 17, 2019

ByteDance, TikTok's parent company, will create a collection of apps targeting new audiences by making investments in Indian content startups.

ByteDance, the parent company of the hyped video-sharing app TikTok, will create a collection of apps targeting new audiences by making investments in Indian content startups. Insider source reported that the company has built a team to search for companies specializing in content, education technology, and social commerce.

The move comes amidst the time when a number of Chinese funds are eyeing Indian startups since its own domestic consumer internet market is slowly being saturated. Back in 2016, ByteDance made an investment of $25 million in DailyHunt, a local newsroom.

One of the sources said:

Until press time, ByteDance would not reply to emailed queries. However, through Linkedin, we know that Nikhil Singh, a former venture capitalist at Matrix Partners has joined the overseas investment team of ByteDance.

ByteDance, which was founded back in 2012, made its entrance in the Indian market in September 2017 with Vigo Video, its live-streaming app. However, in August 2018, the company has taken India by storm with TikTok. ByteDance launched Helo, a language social media app around the same time.

According to industry experts, ByteDance’s investment in other startups might bring to the company exclusive content access. Former WeChat India executive, Himanshu Gupta, explained: