Market Overview

Facebook Expands 'Instagram Reels' To India After Country Bans TikTok

Share:
Facebook Expands 'Instagram Reels' To India After Country Bans TikTok

Facebook Inc. (NASDAQ: FB) has started testing the "Reels" feature on its subsidiary Instagram platform in India, according to a report from Business Insider.

What Happened

Instagram Reels lets users post 15-second videos with audio clips as stories, similar to those on China-based ByteDance subsidiary TikTok's platform.

"We're planning to start testing an updated version of Reels in more countries," a Facebook spokesperson told Insider, adding that it had "no further plans to share on launch date or countries for now."

Instagram began testing the feature in Brazil in November last year, and further expanded the feature testing to Germany and France last month, as reported by TechCrunch at the time.

Facebook earlier this month also shut down its standalone TikTok competitor Lasso, TechCrunch reported.

Why It Matters

The launch of Instagram Reels in India follows the Indian government's move of banning TikTok, along with 58 other Chinese apps, countrywide, in the backdrop of rising tensions over a border dispute with China.

India is a key market for Facebook and subsidiaries WhatsApp and Instagram. The social media giant last acquired a 9.99% stake in Reliance Industries Ltd.'s Jio Platforms in April, as the company looks to dominate the digital services sector in India, including e-commerce, video streaming, and communications.

Price Action

Facebook shares closed 2.9% higher at $240.28 on Monday. The shares added another 0.3% in the after-hours session at $241.00.

Image: Instagram

 

Related Articles (FB)

View Comments and Join the Discussion!

Posted-In: Business Insider ByteDance India Instagram techcrunchNews Tech Media Best of Benzinga

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com