TikTok owner ByteDance to terminate Indian edtech business operations

TikTok owner ByteDance to terminate Indian edtech business operations

ByteDance, the parent company of TikTok, has announced its plans to end activities in the edtech business in India, as per media reports.

Following the controversial ban of TikTok in the country last year, ByteDance currently operates an education learning app called SnapSolve along with Resso, a music streaming platform.

Information released by credible sources have confirmed that the company plans to shut down its edtech application in the country.

Sources also speculate that majority of the employees are being let go, if not all, at the edtech division in India housing more than three dozen people.

ByteDance has refrained from commenting on any details incorporated in the report.

SnapSolve claims the education learning app is preferred by more than 1 million Indian students seeking learning experience and doubt solving. The app caters to the curriculum needs of class 6 to 12 students in the country.

The apps description on Google Play Store defines it as a doubt-solving tool providing students with instant solutions to biology, physics, mathematics, chemistry and science doubts along with NCERT book questions.

It also promotes Snapsolve as a free learning platform that strives to foster unique learning experience just like its competitors Byju’s, Quesgo, Vedantu and Doubtnut.

The digital edtech industry space is booming in India with emergence of new tech players introducing digital platforms backed with solid funding in the modernizing remote era.

Indian government banned various Chinese apps in 2020 such as TikTok amidst the rising concerns of national security and defense that were suspected to have intensified due to engagement in such apps.

Reportedly, ByteDance is intent on selling the short video making app’s AI technology to other companies even in India where the app has been banned.

Indian social gaming platform, GamesApp, Singapore-based travel site WeGo, American fashion app Goat and Indonesia-based shopping platform Chilibeli are among the buyers of TikTok AI which is now being sold by the company’s new division, BytePlus.

Source Credits: https://www.business-standard.com/article/companies/tiktok-owner-bytedance-to-shut-edtech-business-in-india-says-report-121112200893_1.html