TikTok’s acquisition is going well

Spark Global Limited

Spark Global Limited Reports:

TikTok will join the billion-user club, and The video platform owned by Dietidance reported Monday that it now officially has the same number of monthly active users.

Frankly, that number is shocking in its own right, especially considering TikTok has only been around for three years. By comparison, Instagram launched in 2010 and reported around 1 billion monthly active users, while Facebook launched in 2004 with around 2.89 billion monthly active users. TikTok, meanwhile, launched in 2018 as a reincarnation of Musical. Ly, another music-focused short video app, was acquired by Chinese multinational ByteDance in 2017. Even though it has only 40 million monthly active users. Ly has exerted a crucial influence on both the live video ecosystem and the cultural arena, changing the way teenagers interact with each other, and exerting an undeniable influence on the memetics of music.

After Bytedance’s conversion to Musical. That popularity continued to soar after Ly’s user base switched to TikTok, in part because of a relentless global epidemic that has everyone cooped up at home, hungry for more of the quick dopamine shots the platform excels at. TikTok became the most downloaded app in the world in 2020, with 315 million downloads in the first quarter of this year alone.

TikTok’s success is also particularly impressive because it is taking off at the same time that Donald J. Trump’s presidential administration is doing everything it can to grind it to a pulp. In August 2020, the former president threatened to ban the app because he was overly concerned about its ties to the Chinese government unless ByteDance handed majority control of TikTok to a U.S. entity — an order That President Joe Biden later reversed.
In a video released on Monday, Vanessa Pappas, TikTok’s chief operating officer, said, “Over a billion people around the world come to TikTok for entertainment, inspiration, or to discover something new — sports, music, art and culture, fashion, DIY, and more.”
Rave applause for TikTok, the platform that spawned the D ‘Amelio Sisters, a “Ratatouille” -inspired musical and a host of fun new ways for teenagers to be punished. Let’s hope the world doesn’t look like a dumpster fire under the mark of 2 billion monthly active users.