An overly salty ice cream The TikTok trend has become more well-known on the social media platform TikTok. Users may create, watch, and share short videos that were recorded using mobile devices or webcams on the popular social networking site TikTok. The app offers a range of entertainment, including short funny movies that are accompanied by music and sound effects. It is well known for its enthralling aesthetic and fervent user engagement.
Both amateur and professional filmmakers can freely add stickers, effects, and background music to their videos, which fosters creativity. Moreover, TikTok encourages user interaction so that users may collaborate to create content together, such as split-screen duet videos.
History of TikTok
TikTok was launched in September 2016 by the Chinese company ByteDance, also known as Douyin there. The emphasis on short videos on the platform is reflected in the website’s name. Although use was initially just marginal, TikTok experienced significant growth in late 2017 as a result of acquiring rival app Musical.ly and incorporating its 200 million strong user base.
ByteDance saw phenomenal development and success, prompting forecasts that its valuation would astoundingly reach $140 billion by mid-2020, mostly as a consequence of a private sale of a minority portion in the company. It was anticipated that TikTok will have a standalone worth of $50 billion as the most valuable company in the Technology sector.
TikTok’s user base
With support for more than 35 languages and distribution across more than 150 areas, TikTok has developed into a highly popular social media app. It has gained widespread recognition on a global scale and is currently one of the most downloaded apps ever with more than 3.5 billion downloads.
We can better comprehend TikTok’s user base by knowing the following crucial demographic information:
- The 18 to 24 age group represents 40% of TikTok users.
- Women make up a staggering 56% of users.
- Unexpectedly, there are around 141 million active TikTok users in the US.
- On average, users use the TikTok app for 46 minutes every day.
Who owns TikTok?
A Chinese technology company called ByteDance controls 80% of the company that operates TikTok. In late 2020, ByteDance established a new company called TikTok Global in response to problems raised by the Trump administration. According to this plan, ByteDance would keep 80% of TikTok Worldwide, while Oracle and Walmart would become small shareholders and partners in the United States.
The Wall Street Journal reported in February 2021 that the contract is now halted while the Biden administration reviews it.
Investing in TikTok
As ByteDance controls TikTok privately, it is not possible to purchase shares of the corporation. The initial plan for TikTok Global, which called for an IPO, has been put on hold. As a result, TikTok does not yet offer investors any chances for open fundraising.