Chinese internet giant ByteDance is setting up its second corporate entity in India.
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Quoting the sources familiar with the development, the Economic Times in its report said, “ByteDance may file a formal application with the government and regulators, including the Department for Promotion of Industry and Internal Trade in the coming weeks.”
“The new entity is likely to offer Information Technology and IT-enabled services support to ByteDance’s global platforms,” report said.
“It will also work on creating content for its platforms like TikTok, Helo, Toutiao, Douyin, Xigua Video, and others,” it added.
