TikTok Twilight of the Gods?

Published on: September 15, 2020 / Update from: September 15, 2020 - Author: Konrad Wolfenstein

Is TikTok's boom over? – Is TikTok's flight of fancy over?

Despite the controversy surrounding TikTok, the video-based app is the most popular social network this year. When it comes to downloads, TikTok has clearly outpaced the competition from Instagram and Facebook in recent months - in May alone, the Chinese app had more downloads than Instagram and Facebook combined. According to Airnow Data, the network's rapid growth has been slowing down since July and in August, with 44.6 million downloads worldwide, it was only about six million ahead of its pursuer Instagram. Last but not least, the impending ban of the app in the USA and some other countries, as well as the launch of Instagram Reels, which copies TikTok's recipe for success, are leading to the declining number of downloads.

For weeks, Microsoft was considered the hottest candidate to take over TikTok's US operations; Now, however, the Wall Street Journal reported a turnaround in poker surrounding ByteDance's popular video-sharing app. As a result, the contract will now go to Larry Ellison's software company Oracle. The sales deadline imposed by Donald Trump ends on September 20th - if the app has not changed hands by then, it will be permanently banned in the USA.

Despite the controversy surrounding TikTok, the video-based app is the most popular social network this year. In terms of downloads, TikTok has outpaced the competition for Instagram and Facebook in recent months – in May alone, the Chinese app had more downloads than Instagram and Facebook combined. According to Airnow Data, the rapid growth of the network has been slowing down since July, and with 44.6 million downloads worldwide in August, it is only about six million ahead of chaser Instagram. Not least the threatened ban of the app in the USA and several other countries, as well as the launch of Instagram Reels, which copies TikTok's recipe for success, lead to the declining download numbers.

For weeks, Microsoft was considered the hottest candidate to take over TikTok's business in the US, but now the Wall Street Journal reported a turn in poker around ByteDance's popular video sharing app. As a result, Larry Ellison's software company, Oracle, will now win the bid. The sales deadline imposed by Donald Trump ends on September 20 – if the app has not changed hands by then, it will be banned in the USA for good.