India TikTok ban causing $500,000 daily loss, risks jobs: China's Bytedance

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India's ban on popular Chinese video app TikTok is resulting in "financial losses" of up to $500,000 a day for its developer, Beijing Bytedance Technology Co, and has put more than 250 jobs at risk, the company said in a court filing seen by Reuters.

 TikTok allows users to create and share short videos with special effects and is one of the world's most popular apps. It has been downloaded by nearly 300 million users so far in India, out of more than 1 billion downloads globally, according to analytics firm Sensor Tower.

 Earlier this month, an Indian state court ordered the federal government to prohibit its downloads, saying the app was encouraging pornography. Acting upon instructions from the federal IT ministry, Apple Inc and Alphabet Inc's Google last week removed TikTok from their India app stores.
The developments have dealt a blow to the India growth plans of Bytedance, which is backed by Japan's SoftBank Group Corp and by private equity. Bytedance, one of the world's most valuable startups potentially worth around $75 billion, was considering a public listing in Hong Kong this year, sources told Reuters in August.

 ALSO READ: SC asks Madras HC to decide on April 24 TikTok's plea against ban
The ban has also worried the social media industry in India as it sees legal worries mounting if courts increasingly regulate content on their platforms.

 In the filing made to India's Supreme Court on Saturday, Bytedance urged the court to quash the ban and direct the federal IT ministry to tell companies such as Google and Apple to make the app available again on their platforms.

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