The show may be short-lived for TikTok
The app amassed an estimated 177 million first-time users across the Apple App Store and Google Play for the third quarter ended September. That represents a 4% decline from a year ago.
TikTok has evolved to become a global phenomenon known for lighthearted content — including lip syncing and dancing — uploaded by teenage users from Boston to Bangalore. It’s also one of the few examples of a Chinese social media platform that has achieved global success. Beijing-based ByteDance is the world’s largest startups with a valuation of $75 billion according to CB Insights.
ByteDance is spending hundreds of millions of dollars to advertise TikTok on Facebook and Instagram, essentially buying users away from its biggest rivals. But the company may have to rethink that strategy after Facebook CEO Mark Zuckerberg called out the Chinese app over privacy and freedom of speech concerns. Zuckerberg’s remarks came after TikTok drew criticism for its alleged censorship of politically sensitive content such as videos of pro-democracy protests in Hong Kong to appease Beijing.