TikTok (former Musicly), also known as Douyin in China, is a Chinese music video platform and social network that was launched in September 2016 by Zhang Yiming, founder of Toutiao.
Facts You Need to Know About TikTok:
1. The World’s Most Downloaded App
Today, it is the leading short video platform in Asia (especially in South Asia), and has established itself as the world’s fastest growing app, with the biggest music video community globally. The app reached 150,000,000 daily active users (500,000,000 monthly active users) in June 2018, and was the world’s most downloaded app in the first quarter of 2018, with an estimated 45.8 million downloads.
2. It’s No Longer Just a China App
We might think that it’s a China app as many of the videos we’ve seen are filmed in China, but no, it’s gone global. In fact, if you remember it as Tik Tok, it shows that it’s now popular everywhere, as it’s known as Douyin in China.
While it’s not as popular as Instagram or Facebook, Tik Tok is based in the US, with offices in London, Tokyo, Seoul, Shanghai, Beijing, Singapore, Jakarta, Mumbai, and Moscow.
3. Tik Tok Bought Musical.ly
If you’re old enough, you would remember Musical.ly. Back then, it works almost similar to Tik Tok, and people either used Vine or Musical.ly.
Late last year, Tik Tok’s parent company, Bytedance, bought over Musical.ly for almost USD $1 billion and merged the two apps. With Musical.ly already having over tens of millions of downloads, the merger increased Tik Tok user base exponentially.
4. ByteDance, the USD$75 Billion Company
ByteDance was founded by Yiming Zhang, a serial tech entrepreneur in China. His first venture, a search engine for flights and hotels, were acquired by TripAdvisor, and from then on he worked on other online business.
But before Tik Tok (or Douyin) went insanely popular, the company was busy creating and acquiring other short-form video apps. It’s almost like they’ve already known that this format would be the trend of the future, and well, their gamble paid off.
5. Popularized by Short Clips in Facebook
Let’s face it: with the noise online, and the millions of apps in the marketplace, it’s not easy for an app to stand out despite its innovative feature.
Many people know about Tik Tok through short video clips made in Tik Tok app posted in Facebook. The watermark would have made some people curious and therefore download the app to try for fun.
So, we all know that Internet Explorer is now used to download Google Chrome. Same thing for Facebook: it’s usually used to promote other platforms #justsaying #nowyouknowwhywealwaysaskyoudownloadourapp
The slogan is ‘Make Every Second Count’… Which makes sense given the videos are normally only a few seconds long. It’s popular with children, but there is a 12+ rating, so if you’re a parent it’s worth noting that they can see others’ content which you can’t regulate. In terms of in-app purchases, they range from 99p to £99.99, depending on the amount of ‘coins’ you buy.