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AppLovin bids for TikTok in all markets outside of China
Economic Times
·
4m ago
Medial
AppLovin has submitted a bid for TikTok assets outside China before the April 5 deadline set by the US for a non-Chinese buyer. With interest in TikTok's US operations increasing, several companies, including Amazon and a consortium led by OnlyFans' founder, have shown interest. While AppLovin aims to expand its global advertising reach, regulatory and geopolitical challenges remain. TikTok's ties to China have raised US security concerns, impacting the ongoing sale discussions.
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Related News
TikTok pledged to protect U.S. data. $1.5 Billion later, it’s still struggling.
Livemint
·
1y ago
Medial
TikTok has reportedly spent $1.5 billion to build a separate unit, called Project Texas, in an effort to convince U.S. lawmakers that the app is safe. The unit was created to oversee American data and ensure content recommendations were not influenced by China. However, insiders reveal that Project Texas employees sometimes share data outside the unit without going through official channels, raising concerns about the security of user data. TikTok executives continue to update the app's algorithm from China, making it difficult for Project Texas employees to keep track of changes. The company's handling of data has become a cause for concern among employees, who question TikTok's commitment to protecting American users.
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JD Vance has a TikTok problem. Can he find a solution?
Economic Times
·
5m ago
Medial
Vice President JD Vance is exploring Frank McCourt's bid to buy TikTok as part of efforts, initiated by former President Donald Trump, to relocate TikTok ownership to a non-Chinese entity due to security concerns. Although TikTok remains popular in the U.S. with around 170 million users, challenges persist, such as gaining approval from TikTok's Chinese owner, ByteDance. Potential bids for TikTok are underway, but Vance's involvement could enhance negotiation credibility.
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People are hawking TikTok-loaded phones for thousands on eBay, Facebook
Economic Times
·
6m ago
Medial
Following a temporary ban on TikTok downloads in the U.S., sellers are listing phones preloaded with the app for high prices on platforms like eBay. Despite uncertainties about actual sales, some bids have reached thousands of dollars. The ban doesn't affect existing users, and TikTok remains popular with 170 million U.S. users. Legal questions persist, including whether the sale of TikTok to non-Chinese entities will proceed to end the ban.
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China's ecommerce discount race to the bottom puts incumbents under pressure
Economic Times
·
1y ago
Medial
Discount e-commerce is predicted to dominate global markets during the upcoming holiday season and Singles' Day in China. Economic insecurity and a slow retail recovery have led to a "value-for-money battle" in China. Meanwhile, platforms like TikTok Shop and PDD Holdings' Temu are shipping inexpensive goods from China to consumers worldwide. These low-cost platforms are gaining market share by offering subsidies and discounts, competing with established e-commerce giants. As they expand globally, the battle for the bottom in pricing is expected to intensify.
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Irish data regulator opens new inquiry into TikTok over data stored in China - The Economic Times
Economic Times
·
29d ago
Medial
Ireland's Data Protection Commission has launched a new investigation into TikTok regarding the storage of European users' data on servers in China. This follows TikTok's previous fine of 530 million euros in May for transferring European data to China. The inquiry focuses on data storage practices by TikTok, which is registered in Ireland as its EU headquarters. Owned by China's ByteDance, TikTok faces scrutiny over its handling of user information.
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China gives green light to Stellantis-Leapmotor joint venture - sources
Reuters
·
1y ago
Medial
The proposed joint venture between Stellantis and Leapmotor has received approval from China's National Development and Reform Commission. The deal will allow Stellantis to build and sell Leapmotor's electric vehicles outside of China, giving the automaker access to the world's largest car market. Stellantis would own a 51% stake in the joint venture, with exclusive rights to produce and export Leapmotor products. The deal is still awaiting regulatory approval in other markets. This joint venture comes at a time of increasing trade tensions between China and the European Union.
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How did Convergent Finance fare in its third exit move this year?
VCCircle
·
1y ago
Medial
Convergent Finance, led by former Fairfax India executive Harsha Raghavan, has made its third exit move this year, following successful capital harvests from three companies last year. The firm, which is looking for investment opportunities outside of India, recently placed two competitive bids with another company and is expanding its asset portfolio.
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Why Taiwan's Foxconn, an iPhone supplier, is investing in Texas and Thailand
Economic Times
·
7m ago
Medial
Taiwanese electronics manufacturer Foxconn is expanding its operations outside of China by investing millions of dollars in factories and land in countries like India, Mexico, and Thailand. This move is aimed at reducing their dependence on China and preparing for potential tariffs imposed by President-elect Donald Trump. Foxconn's global expansion would help insulate the company from the impact of these tariffs. However, replicating its manufacturing model outside of China could prove challenging, as the country has provided years of government-backed infrastructure investment. Additionally, Foxconn has a history of making investment promises that don't materialize in some instances.
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Rupee logs worst week in 18 months on foreign outflows
VCCircle
·
6m ago
Medial
The Indian rupee experienced its worst weekly fall in 18 months, declining by 0.6% due to persistent foreign portfolio outflows and heightened dollar bids in the non-deliverable forwards market. It hit an all-time low of 86.6475 during the week, though Reserve Bank of India interventions limited further losses. Contributing factors included a strong U.S. dollar and uncertainty from incoming U.S. President Trump's policies. Foreign investors pulled out nearly $6 billion from local markets in January.
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China denies accessing data after TikTok hit with huge EU fine
Economic Times
·
3m ago
Medial
China denied requiring companies to hand over data after TikTok was fined €530 million by the European Union for unlawful data transfers and insufficient protection from Chinese access. This is the EU’s second-largest fine. China insists it neither collects data illegally nor mandates companies to do so. TikTok, part of ByteDance, plans to appeal. The U.S. also pressures TikTok over data concerns, requiring ByteDance to divest U.S. control or face a ban.
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