These days you will hear most of the people are on “Tik Tok.” There is a small percentage of people who may wonder exactly what is Tik Tok. This is a video-sharing social networking service that is owned by a Beijing company called ByteDance. Tik Tok is used to create short dance, lip-sync, talent videos ad well as comedy. The lip-sync videos are 3 to 15 seconds long, while the short looping videos are 3 to 60 seconds long.
The app was launched for the China market in 2016, but it went by the name of Douyin, and in 2017 it was launched for Android and iOS in other markets outside China as Tik Tok. In August 2018, the app was made available in the United States, and this was after they had a merger with musical.ly.
Today, the app is very popular in Asia, the United States, and several other parts of the world. It is also available in 75 languages, including English, Arabic, Spanish, Vietnamese, Italian, Japanese, and Russian, among many others.
Inception
Tik Tok is owned by a Chinese company that was founded in 2010 by Zhang Yiming. The company goes by the name of ByteDance, and at first, it launched its products in the China market as Douyin in2016. The following year the company extended its services to the United States and launched its services as Tik Tok.
The two services Douyin and Tik Took, are essentially the same app and are similar to each other. However, they both run on separate servers, and this is to comply with censorship restrictions of the Chinese government. In August 2018, Tik Tok and musical.ly merged, and this saw a rise in downloads at Tik Tok. It became the most downloaded app in the US after two months of being launched.
In February 2019, Tik Tok and Douyin had been downloaded one billion times all over the world, and this did not include the Android installation in China. Tik Tok was rated as the 7th most downloaded mobile app of the decade. It was the most downloaded app o the App Store in the period of 2018 and 2019.
Evolution
The app Douyin was initially launched in China under the name A.me, and three months later, it rebranded to Douyin. The app was developed in only 200 days, and it recorded an instant growth because, after just one year, it had 100 million users. In addition, over 1 billion videos were viewed on a daily basis.
In September 2019, Tik Tok signed a multi-year partnership with the US National Football League (NFL). The partnership included the facilitation of launching an official Tik Tok account for NFL. The main aim of the account was to bring new marketing opportunities like sponsored videos as well as hashtag challenges.
Tik Tok’s parent company ByteDance bought musical.ly at the cost of $1 billion.musical.ly was a startup company that was based in Shanghai but had an office in Santa Monica, California. It was initially a social media video platform that allowed users to upload comedy videos and lip-sync. The merger of musical.ly and Tik Tok created a larger video community where existing accounts and data were consolidated into one app, which kept the name Tik Tok.
After Tik Tok was born, Douyin remained as a separate app which is available from the developer’s website. It is also very popular, and this is attributed to the market campaigns as well as some of its features. It has launched several activities where Chinese celebrities engage their fan’s interests. Douyin launched a partnership with Modern Sky to monetize music.
Awards & Achievements
Tik Tok has been in existence since 2016, and so far, it is among the most downloaded app of all time. Just about two years after it was launched, it had an estimate of 104 million downloads, and that is a great achievement. Another big achievement is the availability of the app all over the world, where it can be accessed in 75 different languages, and it is available in more than 150 markets globally.
Net Worth of Tik Tok in 2024
As of April 2024, Tik Tok has an estimated net worth of $75 billion. This is a great achievement considering that the company has been in the market for just a few years. The revenue from the company mainly comes from the millions of downloads it has and also from the billions of views the app gets. The app is among the most downloaded ones in the App Store, and this means in the future, there is expected to be steady growth in the revenue of the company, thus increasing its net value.
Tik Tok is a Chinese based video-sharing social networking service that has been in existence since 2016. The app allows the users to create videos, comedy, and lip-sync and then upload it to their account. The app started in India, and the outside market got it from 2017. To date, the app is the most downloaded app in the world, and it is ranked among the top social networking services in the world.
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