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Tiktok Ltd Biography & Facts

TikTok, whose mainland Chinese counterpart is Douyin (Chinese: 抖音; pinyin: Dǒuyīn; lit. 'Shaking Sound'), is a short-form video hosting service owned by Chinese internet company ByteDance. It hosts user-submitted videos, which can range in duration from three seconds to 10 minutes. It can be accessed with a smart phone app. Since its launch, TikTok has become one of the world's most popular social media platforms, using recommendation algorithms that were better than alternative apps at connecting content creators with new audiences. Many of its users are young, of Generation Z. In April 2020, TikTok surpassed two billion mobile downloads worldwide. Cloudflare ranked TikTok the most popular website of 2021, surpassing Google. The popularity of TikTok has allowed viral trends in food and music to take off and increase the platform's cultural impact worldwide. TikTok has come under scrutiny due to data privacy violations, mental health concerns, misinformation, offensive content, and its role during the Israel–Hamas war. Countries have fined, banned, or attempted to restrict TikTok to protect children or out of national security concerns over possible user data collection by the Chinese government through ByteDance. Corporate structure TikTok Ltd was incorporated in the Cayman Islands and is based in both Singapore and Los Angeles. It owns four entities that are based respectively in the United States, Australia (which also runs the New Zealand business), United Kingdom (also owns subsidiaries in the European Union), and Singapore (owns operations in Southeast Asia and India). Its parent company, Beijing-based ByteDance, is owned by founders and Chinese investors, other global investors, and employees. One of ByteDance's main domestic subsidiaries is owned by Chinese state funds and entities through a 1% golden share. Employees have reported that multiple overlaps exist between TikTok and ByteDance in terms of personnel management and product development. TikTok says that since 2020, its US based CEO is responsible for making important decisions and has downplayed its China connection. History Douyin Douyin was launched by ByteDance in September 2016, originally under the name A.me, before rebranding to Douyin (抖音) in December 2016. Douyin was developed in 200 days and within a year had 100 million users, with more than one billion videos viewed every day. While TikTok and Douyin share a similar user interface, the platforms operate separately. Douyin includes an in-video search feature that can search by people's faces for more videos of them, along with other features such as buying, booking hotels, and making geo-tagged reviews. TikTok ByteDance planned on Douyin expanding overseas. The founder of ByteDance, Zhang Yiming, stated that "China is home to only one-fifth of Internet users globally. If we don't expand on a global scale, we are bound to lose to peers eyeing the four-fifths. So, going global is a must." ByteDance created TikTok as a global version of Douyin. TikTok was launched in the international market in September 2017. On 9 November 2017, ByteDance spent nearly $1 billion to purchase Musical.ly, a startup headquartered in Shanghai with an overseas office in Santa Monica, California. Musical.ly was a social media video platform that allowed users to create short lip-sync and comedy videos, initially released in August 2014. TikTok merged with Musical.ly on 2 August 2018 with existing accounts and data consolidated into one app, keeping the title TikTok. On 23 January 2018, the TikTok app ranked first among free application downloads on app stores in Thailand and other countries. TikTok has been downloaded more than 130 million times in the United States and has reached 2 billion downloads worldwide, according to data from mobile research firm Sensor Tower (those numbers exclude Android users in China). In the United States, celebrities, including Jimmy Fallon and Tony Hawk, began using the app in 2018. Other celebrities, including Jennifer Lopez, Jessica Alba, Will Smith, and Justin Bieber joined TikTok as well as many others. In January 2019, TikTok allowed creators to embed merchandise sale links into their videos. On 3 September 2019, TikTok and the U.S. National Football League (NFL) announced a multi-year partnership. The agreement occurred just two days before the NFL's 100th season kick-off at Soldier Field, where TikTok hosted activities for fans in honor of the deal. The partnership entails the launch of an official NFL TikTok account, which is to bring about new marketing opportunities such as sponsored videos and hashtag challenges. In July 2020, TikTok, excluding Douyin, reported close to 800 million monthly active users worldwide after less than four years of existence. In May 2021, TikTok appointed Shou Zi Chew as their new CEO who assumed the position from interim CEO Vanessa Pappas, following the resignation of Kevin A. Mayer on 27 August 2020. In September 2021, TikTok reported that it had reached 1 billion users. In 2021, TikTok earned $4 billion in advertising revenue. In October 2022, TikTok was reported to be planning an expansion into the e-commerce market in the US, following the launch of TikTok Shop in the United Kingdom. The company posted job listings for staff for a series of order fulfillment centers in the US and is reportedly planning to start the new live shopping business before the end of the year. The Financial Times reported that TikTok will launch a video gaming channel, but the report was denied in a statement to Digiday, with TikTok instead aiming to be a social hub for the gaming community. According to data from app analytics group Sensor Tower, advertising on TikTok in the US grew by 11% in March 2023, with companies including Pepsi, DoorDash, Amazon and Apple among the top spenders. According to estimates from research group Insider Intelligence, TikTok is projected to generate $14.15 billion in revenue in 2023, up from $9.89 billion in 2022. In March 2024, The Wall Street Journal reported that TikTok's growth in the U.S. had stagnated. Since at least 2020, following calls to ban TikTok in the country, the Committee on Foreign Investment in the United States (CFIUS) has been investigating the company's 2017 merger with Musical.ly but has not finalized any of its negotiations with TikTok, such as the Project Texas proposal, waiting instead for Congress to act. Expansion in other markets TikTok was downloaded over 104 million times on Apple's App Store during the first half of 2018, according to data provided to CNBC by Sensor Tower. After merging with musical.ly in August, downloads increased and TikTok became the most downloaded app in the U.S. in October 2018, which musical.ly had done once before. In February 2019, TikTok, together with Douyin, hit one billion downloads globally, excluding Android installs in China. In 2019, media outlets cited TikTok as the 7th-most-downloaded mobile app of the d.... Discover the Tiktok Ltd popular books. Find the top 100 most popular Tiktok Ltd books.