TikTok is not only an app it’s like a revolution.
With Facebook under antitrust scrutiny around the world. But the company is also spending more time making the case that it is beset on around all.
There are other messaging apps, other professional networking apps, and other video apps. And when it comes to good old-fashioned social networking — public broadcasts, following influencers, and that sort of thing, there’s TikTok. Facebook has taken along to get a billion people around using it. TikTok is not even a comparison in growing itself.
Tiktok is not actually a social platform but an entertaining platform. ”In just three years, TikTok has become one of the world’s most popular online social network platforms,” Facebook wrote today in a letter to Rep. David Cicilline, D-RI, who has championed an antitrust inquiry into the company.
“The app has been downloaded more than one billion times globally, is available in more than 150 countries, and in 2018 was installed more times than either Facebook or Instagram.” TikTok’s ubiquity is all the more striking considering that it just celebrated its first birthday on August 2nd. That’s when the Chinese company ByteDance, which had bought an American app named Musical.ly in November 2017, rebranded it as TikTok.
In the year since, the app has become a global hit, thanks to a core feed powered by machine learning that’s entertaining even if you never follow anyone. (TikTok’s “duets” feature, which allows you to easily remix others’ content, also skillfully married a strong creative tool with a useful engagement hack.) The thing as per the Wallstreet is that Tiktok had a lot of investors. They say that TikTok spent $1B on advertising. And so as TikTok enters its second year — and becomes a key talking point in Facebook’s this-market-is-competitive-we-swear global tour, how durable should we expect it to be?
Why do we think it may collapse…
TikTok clearly has a lot going for it: it’s a bona fide cultural phenomenon, as you can see from the way it propelled Lil Nas X’s “Old Town Road” to the longest-ever reign atop the Billboard charts. ByteDance already has several hugely popular apps around the world, and the startup’s $75 billion valuations give it the resources to compete with anyone. (Most recently it declared ambitions in web search.) The company also has a famously workaholic culture, access to much of the best talent in China, and a recent influx of American executives. But the company also faces some real risks in the near future.
TikTok has to fix its funnel: Too many people try TikTok, use it a few times, and never return. We saw something happen similarly to Twitter years ago. The app developed universal awareness among Americans, but most who downloaded Twitter abandoned it shortly thereafter. With TikTok spending $3 million a day on ads in the United States, it could become a household name in short order. But if it can’t sustain users’ interest, it could find itself mired in the same trough of despair that Twitter has been in for most of its life.
TikTok has to manage its relationship with regulators around the world: ByteDance has already run afoul of the US government, settling privacy concerns with the Federal Trade Commission in February for $5.7 million. But a larger concern should probably be the trade war with China, which has found the United States much more skeptical of Chinese businesses generally.
These predictions may or may not come true but If TikTok didn’t maintain itself in its own niche and involve in copying others and make no sense there is a chance that the app with billions of users may collapse.
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