TikTok ban causing $500,000 daily loss: Bytedance

India’s ban on popular Chinese video app TikTok is resulting in “financial losses” of up to $500,000 a day for its developer, the company said in a court filing. 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.

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