The United States, Europe, Brazil, and Southeast Asia are the biggest markets for the popular short-video app, the company said.
The video-sharing platform is owned by China's technology giant ByteDance. TikTok appointed ByteDance's CFO Shouzi Chew, a Singaporean national, as the new chief executive officer of the company earlier this year.
The competition that TikTok poses to Western tech giants is becoming a headache for many of its competitors— as a result Instagram, owned by Facebook, has radically shifted its focus, declaring that it’s no longer a photo-sharing app. Instagram is heavily promoting Reels, its TikTok clone, and even discussion forums like Reddit are enticed by the promise of short-form video feeds.
TikTok said that its biggest markets are in the United States, Europe, Brazil and Southeast Asia, while its parent company ByteDance is headquartered in China. Of course, TikTok has faced severe regulatory threats in recent years — former President Trump attempted to block U.S. business transactions with TikTok, and in India, home to 1.36 billion people, TikTok has been banned since last year.As recently as last month, TikTok parent ByteDance bought the VR hardware company Pico, indicating a potential future expansion into VR.
It’s not a coincidence that all the while, Facebook CEO Mark Zuckerberg wants to turn his trillion-dollar platform into a VR powerhouse.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Traffic cop answers all your burning traffic-related questions on TikTokStephan Esterhuizen has been in the service for 23 years and shares advice and tips
Read more »
Traffic cop answers all your burning traffic-related questions on TikTokStephan Esterhuizen has been in the service for 23 years and shares advice and tips
Read more »
Were Royal AM players humiliated after MaMkhize's cash rewards?Twitter users were divided over the 'incentive' players received and how it was conducted.
Read more »
Stoan Seate talks about retiring from music to pursue fine art & poetry'The poetry now is the concentration of who I am and my artistic identity.'
Read more »
WATCH: Royal AM owner splashes the cash on the pitch after win'Some of the players feel like the club is just doing all of this for the buzz on social media,' a source told the Mgosi Squad.
Read more »
WATCH: Shauwn Mkhize ’makes it rain’ R200 notes after Royal AM beat Maritzburg UnitedThe unbridled excitement of Royal AM's entourage after the team's last gasp KZN derby victory over Maritzburg United saw them rewarding their players with cash.
Read more »