Is TikTok's meteoric rise over? – Image: shutterstock.com|KlavdiyaV
Is TikTok 's meteoric rise over?
Despite the controversies surrounding TikTok, the video-based app remains the most popular social network this year. In terms of downloads, TikTok has significantly outpaced its competitors Instagram and Facebook in recent months – in May alone, the Chinese app garnered more downloads than Instagram and Facebook combined. According to Airnow Data, the network's rapid growth has been slowing since July, and in August, with 44.6 million downloads worldwide, it was only about six million ahead of its closest rival, Instagram. The looming ban of the app in the US and several other countries, as well as the launch of Instagram Reels, which copies TikTok's successful formula, are contributing factors to the declining download figures.
For weeks, Microsoft was considered the frontrunner to acquire TikTok's US operations; however, the Wall Street Journal has now reported a twist in the bidding war for ByteDance's popular video-sharing app. According to the report, the deal is now set to go to Larry Ellison's software company, Oracle. The sales deadline imposed by Donald Trump is September 20th – if the app hasn't changed hands by then, it will be permanently banned in the US.
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.
You can find more infographics at Statista.
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