TikTok said it has surpassed 1 billion monthly users, a significant number for a platform launched in August 2018 and has been scrutinized by governments, including the United States, concerned about its Beijing-based parent company’s data collection practices. . ByteDance.
The platform’s popularity soared during the pandemic, becoming the world’s most downloaded app in the first quarter of 2020, with nearly 315 million download in the quarter alone, according to app analytics firm SensorTower.
ByteDance saw its 2020 revenue more than double from the previous year, to $ 34.3 billion.
Since its launch so far, SensorTower claims that the platform’s application installs have reached 3.2 billion, including data from Douyin, the Chinese version of the application, according to Arab Technical News Gateway.
Average monthly users of the platform increased by 25% in August, compared to the same month in 2020. In June of questyear, ByteDance was valued at $ 425 billion.
Other platforms looking to replicate TikTok’s phenomenal success have created their own short video products. The Facebook-owned Instagram platform launched the Reels feature last August.
Snapchat introduced Spotlight in November. The giant YouTube video platform has also entered in this field through YouTube Shorts.
But TikTok continued to grow. A report released earlier this month found that users of the platform spend more time viewing its content than YouTube users.
Vanessa Pappas, chief operating officer of TikTok, thanked the users in a video on the platform for “making it such a special place”.
ByteDance has reportedly postponed its IPO plans indefinitely due to the crackdown on tech companies by Chinese regulators in recent months.
China is examining what it considers anti-competitive practices of its large tech companies and how companies handle sensitive customer data.
ByteDance and TikTok were among the Chinese tech companies targeted by the Trump administration last year. And this through a series of executive orders that ban its applications from apps store Americans.
None of the orders entered in force and President Joe Biden in June signed an executive order lifting the ban, but ordered the Secretary of Commerce to investigate apps that have ties to foreign adversaries like China and that may be collecting sensitive data from American consumers.
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