Success Story Of The Startup Tik Tok

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Krishna Hariharan
May 17, 2019   •  201 views

TikTok, also known asDouyin in China, is an iOS and Android media app for creating and sharing short videos. The application enables clients to make short music recordings of 3 to 15 seconds and short circling recordings of 3 to 60 seconds. It is a main short video stage in Asia, the United States, and different pieces of the world.

CREATOR
Douyin was launched by Byte Dancein China in September 2016. Douyin was developed in 200 days, and within a year got 100 million users, with more than 1 billion videos viewed every day.While keeping the app title as Douyin in China, Douyin was branded as TikTok for the international market when it started to expand into other countries in September 2017. On 23 January 2018, the TikTok application positioned #1 among free portable application downloads on application stores in Thailand and different nations.

THE CEO

Byte Dance’s CEO and founder is Zhang Yiming, a 35-year-old entrepreneur whose background includes the creation of a real estate search engine.

Information about Zhang is scarce. He doesn’t give many interviews, but he appears to have an Instagram where posts include a scenic photo of Tokyo, an aerial video of a wedding and a picture of him standing in front of the world’s first computer. He also seems to really like mini soda cans.

In a 2015 speech at his alma mater, Nankai University, Zhang revealed a handful of other details about himself. He’s a big fan of biographies and spent a lot of time in college reading. He said he’s socially awkward, a “science man” who introduces himself at school reunions with “hi, I installed your computer.” During college, he built websites and did tech troubleshooting for extra money. As an added bonus, it helped him meet his wife.

MERGING WITH MUSICAL.LY
On 9 November 2017, TikTok's parent company,Byte Dance, spent up to $1 billion to purchase musical.ly, a startup based in Shanghai with an office in California owning a popular social media platform targeting the US teenage market.Looking forward to leveraging the US digital platform’s young user base, TikTok merged with musical.ly on 2 August 2018 to create a larger video community, with existing accounts and data consolidated into one app, keeping the title TikTok.

FEATURES

It is more or less the same as its ancestor Dubsmash or the snapchat. The only thing in which helps Tik Tok to have an edge is the algorithm that they have implemented. TikTok employs artificial intelligence to analyze user’s interests and preferences through their interactions with the content, and display a personalized content feed to each user.

Since TikTok can wind up addictive, clients may think that its difficult to quit utilizing the app.In April 2018, a habit decrease include was added to Douyin. This urges clients to take a break each 90 minutes.Later in 2018, the element was taken off to the TikTok application.

ABUSE & NATIONAL SECURITY
Several users have reported endemic cyberbullying on TikTok, including racist and anti-Semitic abuse.

In January 2019, an examination by the American research organization Peterson Institute for International Economics depicted TikTok as a "Huawei-sized issue" that represents a national security danger toward the West, noticing the application's ubiquity with Western clients including military staff, and its capacity to pass on area, picture and biometric information to its Chinese parent organization, which is legitimately unfit to decline to share information to the Chinese government. Peterson additionally communicated worries that TikTok could be utilized for the "control of popular sentiment."

ADDICTION
Ape App Lap report that TikTok users log into the app 43 times a day – averaging out at around three times per waking hour. This compares with an average of 16 Twitter logins per day.

According to their figures, just over 40% of users open the app 21-50 times per day, with close to 30% more opening it 51 times or more.

(the y-axis in the below graph shows the percentage of users, the x-axis is times the app is opened).

TikTok monthly revenue

Around 42% of this revenue – or $1.5 million – came from the US, where the increase in spending measures 144%. This just outstrips spending in China, which at $1.4 million represents 39% of the total. Outstandingly, in any case, Chinese Android clients were excluded in the aggregate, so we can securely accept that ByteDance's nation of origin is the main wellspring of income. Altogether, clients had burned through $50 million on TikTok as of the finish of October 2018.

Source:Sensor Tower

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