TikTok is owned by ByteDance Inc., the world’s most useful startup.
Sources mentioned that Gandhi, who was
leading ByteDance’s efforts to sell TikTok’s India enterprise up to now few months, is presently evaluating choices with some main Indian startups seeking to scale operations, particularly with an AI/ML element.
Emails despatched to TikTok for touch upon the event remained unanswered as of publishing this story. Gandhi had joined TikTok in October 2019 from Instances Community.
“Nikhil performed an instrumental position in popularising Tiktok in India. Underneath his management, the app revolutionised content material creation in India by making a model new ecosystem for content material creators that provided equal alternative to individuals from all strata of society to showcase their expertise. Tiktoker truly grew to become a phrase within the Indian lexicon,” mentioned a former senior official with TikTok.
Underneath Gandhi, TikTok had began producing Rs 20-25 crore in promoting income by the July-September quarter of 2019. He additionally performed a key half in bringing Bollywood actors — together with Deepika Padukone and Jacqueline Fernandes — to the favored platform.
Trade consultants say TikTok would have garnered Rs 200-250 crore income in FY20.
Individual of Alternative
ByteDance founder Zhang Yiming, and former TikTok CEO Kevin Mayers had employed Gandhi to unroll their mega plans for India—$1 billion funding within the Indian enterprise over three years—earlier than the corporate was requested to close its enterprise in June 2020. On the time, the Chinese language app had greater than 200 million customers in India.
The Ministry of Electronics and Info Expertise TikTok
banned 59 Chinese apps, together with TikTok on 29 June 2020. The ban was made everlasting in January 2021.
In response to a
5 April ET report, most TikTok India workers in verticals akin to gross sales and advertising have left the corporate. Some staffers working within the know-how staff, together with Gandhi, had been moved underneath the cluster that handles Center East and North Africa (MENA), Gulf Cooperation Council (GCC) and Turkey area.
ByteDance explores sale of Indian TikTok assets to rival firm Glance
Simply earlier than shutting store, TikTok had began giving robust competitors to Fb Inc. and YouTube, with individuals spending greater than an hour every day on the app on a median and every day lively customers rely crossing 100 million.