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TikTok’s triumph attracts imitators

The Chinese short video app TikTok has been downloaded three billion times globally. So far, only apps owned by Facebook have been able to reach such high figures. An IPO of its parent company ByteDance is rumored but has not yet been publicly confirmed. However, the competition is not waiting on the sideline. TikTok’s biggest competitor is Kuaishou, which has been listed in Hong Kong since February.

A few days ago, the Chinese short video app TikTok passed the milestone of three billion total downloads worldwide. Simultaneously, the app also achieved the most downloads and the highest revenue in the non-gaming category in the first half of 2021. So far, this success has only been achieved by Facebook’s WhatsApp, Messenger, Instagram, and the Facebook app itself.

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