It is a Chinese company sharing short videos, and if you are over 30, you may not have heard of it.
We’ve reviewed how TikTok can be the biggest threat to Facebook.
This week we learned two important things about TikTok. First, it’s making a surprising amount of money, and secondly, Facebook chief Mark Zuckerberg sees it as a major competitor.
Bytedance, the CEO of TikTok, made $7- $8 billion in profit in the first six months of this year, according to Reuters data. The company expects to remain profitable for the second half of the year.
At a time when companies like WeWork, “Uber” and “Lyft” are also uncertain about making a profit, saying that profitability is far from over, the performance of a technology company is impressive. It’s been a few years since I landed.
Mark Zuckerberg seems to agree. In a video to be disclosed at a Facebook meeting, Zuckerberg is telling his team how TikTok is growing fast.
Zuckerberg says, ‘This is the first consumer Internet product from China’s major technology company, which is performing well worldwide. It has begun to thrive in America, especially among young people. It is growing very fast in India. I think in India, she has surpassed Instagram in terms of volume. So, this is a very interesting case. ‘
Then he talked about launching his app in Mexico as a talk show, talking about plans to tackle their ‘interesting issue.’ TikTok has not made much room in Mexico yet.
How popular is TikTok among young people?
Research by App Annie, a research company that tracks downloads of mobile applications, also confirms the growing popularity of TikTok. The company’s Europe researcher, Paul Barnes, says that users using Android only spent a billion hours on TikTok in the month of August. They do not include Chinese consumers. This is a 400% increase over the previous year.
Paul Barnes says the concern for other social networking companies is that TikTok users are very loyal if you compete with those posting on Instagram or posting something on Facebook.
‘You need a lot of time to put a video on TikTok. So when a competitor spends so much time and time looking at their commitment to broadcast their personal content to TikTok users, they get jealous. ‘
But with this rapid development, some concerns about the use of this platform have also been expressed. Earlier this year, a BBC study revealed that TikTok failed to close its accounts of adult users who sent adults messages to children.
However, providing a safe and positive environment for consumers is the top priority, says TikTok.
On the other hand, it has also been revealed that being a Chinese company, TikTok senses topics that are sensitive to China. The British newspaper The Guardian recently published some of the disclosed Internet documents, which indicate that content monitoring personnel are instructed to censor content related to Tiananmen Square or Hong Kong, which are sensitive topics for China.
But it is hard to say that millions of young TikTok consumers in Europe and the United States know or don’t care that Tik Tok is a Chinese company.
