Who owns TikTok?

Ever caught yourself humming to a piece of music playing somewhere in the background and started wondering where you heard that? Or found yourself tapping your feet to a beat that is trending? Or lip-syncing to a dialogue playing on your mobile phone?? Chances are that TikTok is the answer to all the above questions. It is not an exaggeration to say that TikTok is the leading short video app out there. The heights of popularity and fame the app has achieved in a very short span of time is a clear indication of the huge fan base the app has earned.

The app has become a sensation among all age groups, starting from the kids who just started uttering their first words to the old men and women in their retirement, TikTok became a major part of everyone’s lives. According to recent stats, TikTok is spread across more than 150 countries. The app has crossed 2 billion mobile downloads across the globe. TikTok has about 1 billion active users monthly.

One of the positives of TikTok is that it has varied users. Unlike other apps which are only popular among specific kind of users, TikTok doesn’t have any specific type when it comes to the users. Literate or illiterate, young or old, doctors, actors, influencers, freelancers, students, employees, whoever or wherever it is, TikTok is everywhere and everyone is aware of TikTok.

While we are here, let’s get ourselves familiar with some more TikTok statistics apart from those that are already mentioned above.

Does it come as a surprise when we say that Gen Z covers a major portion of the TikTok users? No, right? According to recent statistics, Gen Z contributes to 60% of the TikTok users. Also, TikTok is available in 75 different languages. And just last month alone  (January 2021), TikTok had 104 million downloads, which is an increase of 46% compared to a year ago.

Recently, TikTok has created a creator fund of 1 billion dollars which will be paid to its creators directly in an effort to solidify the relationship between the company and the influencers. And the engagement that the app has is huge. The reach is maximum for almost any content you post on this platform compared to several other competitors the app has. The creators and influencers also make money through TikTok.

We have discussed so much about TikTok without actually telling you what exactly is this TikTok. Without further ado, let’s find out what Tiktok is.

What exactly is TikTok? Who owns it?

TikTok, also known as Douyin in China is a short-video sharing social media service which has become a trending app ever since its launch. It has millions of users who literally are addicted to it. It provided the young and budding talents with a platform to share their talents with the world.

We all know that TikTok is a source of entertainment, memes and many more things. But did you know that this app was originally was made to be an educational app for children? Yeah, that’s right, when the creators of the app were first designing the app they made it so that the app so that the students can have access to the knowledge most universities won’t provide and also that people can teach the students without all the formal interview procedures.

But finally, when the app was launched, the app which was actually designed for educational purposes got more traffic through entertainment. And that app was Musical.ly, which was the name of the app before being acquired by the current owners of TikTok. 

The Douyin app which is the Chinese version of TikTok was launched on September 1, 2016, as a sub-organization of the Beijing based company ByteDance. ByteDance purchased Musical.ly a Shanghai-based short video application (which allowed its users to make short lip sync videos, comedy clips etc.) for 1 billion US dollars. TikTok and Musical.ly merged together in August of 2018, with the aim of creating a larger video community by integrating the two apps into one, and kept the title as TikTok, which was the end of musical.ly as an app and one forward step in the success of TikTok. So, to answer the question of who owns TikTok, it is the Beijing based company ByteDance.

Wrapping Up

TikTok is an app with huge popularity and the highest social media engagement. It was used by several people for different purposes. There is no one who isn’t aware of TikTok. Hope this article has provided you with the information you are looking for. And for more similar posts, business models and many more articles visit the official website of Zeen.

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