Instagram's parent company Facebook introduced Instagram Reels to its users just after a week of Chinese app ban in India along with the most popular short video app - Tik Tok. Releasing Instagram Reels was just for a test but it took over the Market and made its first place in the short video world.
Instagram already had millions of users, it was the best market place to launch a new feature. Almost every Tik Tok user found an exact same platform after the ban of Tik Tok.
India is one of the largest market places for growing digital media and electronics products.
Before the ban, India was the biggest market for TikTok’s. At the end of 2019, TikTok had almost 200 million users in the Country and was going to cross 300 million this year.
Just after the app banned and the speech by Prime Minister - Narendra Modi for Aatma Nirbhar Bharat, Indian software developers jumped in a marathon to develop short videos app and the result came out with Sharechat, Chingari, InMobi Group’s Roposo, and Mitron have ramped up their efforts and have claimed to court tens of millions of users. Sharechat said last week that it had doubled its daily active users in a matter of days to more than 25 million.
Tik Tok in the USA is currently on notice period, previously it was 45 days later it extended to 90 days by the US President - Donald Trump. Trump said before the notice period ends Tik Tok should be sold to an American Company or get banned in the USA too. America is concerned about its security issue as the app is under the Chinese government. India banned 59 apps along with Tik Tok for the same reasons behind it.
According to the reports, big companies are inline to buy Tik Tok. Parent Company ByteDance in talks with Mukesh Ambani's Reliance Jio to sell and Financial Times report says Microsoft is looking to acquire Tik Tok app.
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