Reliance, owned by the richest man of India, Mukesh Ambani is planning to join hands with the Byte Dance. Byte Dance is the parent company of Chinese banned app Tiktok. The talks about the same started last month, and till now haven’t confirmed the deal. The app, when banned in India, had around 200 million users. According to the sources, the company is valued for $3 billion. This investment by Mukesh Ambani in the company can help the oil-to-retails gigantic Reliance Company to connect deeper to its consumers. Its digital enterprise has raised around $20 billion from around 13 high profile investors, by the end of April 2020.
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