Who owns TikTok? What Do We Know About the CEO?
TikTok application was developed and launched by the startup Bytedance, located in the South Asia region, China.
Its founder is Zhang Yiming, a young 36-year-old entrepreneur.
The initial direction was to work with artificial intelligence, the products produced were intended for the Chinese market.
This outstanding project was launched in 2012.
The first big project was a news portal that collects news based on the interests of users.
The concept was very popular, there were no serious competitors and analogues on the market.
The name of the mobile app was Toutiao or Today's news in translation.
It still exists on the international market under the names TopBuzz, Xigua Video and News Republic.
The company did not stop at one project, but continued to work.
The results of the development were hosting Douyin or Vibrato.
The focus is on short videos with the ability to add music, text, and visual effects.
The audience warmly accepted the development, modern Chinese celebrities were registered in the network, their own format, local stars and memes appeared.
The app was used by more than 600 million people, or 80% of the Chinese population who use the Internet.
Douyin eventually became the digital TikTokвЂ™s father.
The fortune of the founder, Zhang Yiming, is estimated lika about $ 15 billion, and so far this guy is one of the most powerful China business вЂ“representatives.
How Does TikTok Make Money?
In 2014, the app Musical.ly was introduced to the world.
First of all is was aimed at increasing the level of young peopleвЂ™s education.
The main content of the platform were videos, focused on popular science, and lasted up to 5 minutes.
As a result, the developers abandoned the format and replaced it with short entertainment videos.
After the format change, the target group grew due to the presence of world celebrities, humor and amazing actions.
By 2016, the service bypassed Vine at the same time that it closed.
Growth has increased.
By 2017, Douyin was duplicated into a subsidiary TikTok, planning to move to the international market.
Combining the two platforms is not possible under Chinese law, because of Internet use limitation on the Chinese territory.
Thus a Chinese startup decided to buy out Musical.ly and combine it under a single name.
At that time, the purchased project had an audience five times smaller than Tiktok.
Together, 600 million people have become users of a single service. The total base of the startup, together with China, reached 1.2 billion people.
The collaboration was evaluated with sharp criticism, the decision was considered doubtful, and experts predicted a decline in popularity.
However, this is how we know video hosting now, and therefore the forecasts were not justified.
And due to the application popularity all over the world it started to attract thousands of business representatives ready to pay serious money for their products advertising.
The main application audience is users between the ages of 15 and 25, so general advertisers are primarily manufacturers of cutting-edge digital products.
TikTok often serves as a platform for promoting HYIPs of all types and varieties, which are then distributed throughout the world network.
Competitors and analogues
Competitors have always been the giants like Instagram, YouTube, Vine and Coub.
Thanks to the new formats, TikTok dropped out of the race with Coub due to the high difference between them, and Vine as all of You know closed.
In addition to competitors-giants, there were also different analogues.
So, for example, in 2017, there was Like from Bigo, the Creator of which is a Chinese entrepreneur Lei Jun with a partner David Li.
The concept and history of media projects are very similar, as are the users.
There is no direct struggle between them, they get along well with each other despite the regular migration of innovations from one project to another.
Why is TikTok so popular?
There are a lot of reasons for its great popularity level, but the main ones are the unique format, simple feed of videos and exceptional management.
Celebrities themselves share their posts from TikTok on other social networks, and it in turn adds a watermark to each video.
This makes it easier for viewers to find the source of content.
The driving force of the platform is its recommendations system, thanks to which tens of thousands of people located in different regions of the world can share their creative abilities and find like-minded people.
They become popular, their creativity is shared, and the app is downloaded by new people.
Creating videos does not take much effort and time from local authors.
Viewers who want to become bloggers have more options at the entrance than on YouTube.
For TikTok, the country does not matter, application is adopted to many languages.
Users themselves can make of necessary set ups of the app, and recommendations are filtered by the description of videos and the location of the viewer.
According to statistics, most often TikTok is downloaded in India, the United States, Turkey, Russia, Saudi Arabia, Mexico and Pakistan.
Platform occupies a significant place in the mobile market, and covers the great part of the world.
Rapid growth and the stability of the landslide are shown in the statistics.
According to them, service by number of downloads in the Google Play and the App Store has already overtaken Telegram, Viber, its competitor Likee and Google Browser.
Only Instagram and WhatsApp Messenger are ahead of TikTok.
Can You Make Money on TikTok?
The site was considered a failure financially, and the founder was predicted bankruptcy.
Businesses and advertisers around the world were confident of low solvency.
Launching a promotion, in their opinion, was not appropriate.
In early 2019, the first ad appears, appearing unobtrusively in the recommendations feed.
The product of promotion was food delivery. Since then, developers have continued to improve the ads inside.
Now the audience segments are expanding in age.
Teenagers make up 40% of the total number of users instead of 80% of the previous ones.
And since the prospects of the application as an advertising platform have already been proven, any user who enjoys a certain level of popularity is able to receive a stable income from placing advertising materials on their TikTok account
Now Bytedance plans to develop a music service that will be able to compete with Google Music, Apple Music, Spotify, Soundcloud, BOOM and Deezer.
The company explained this decision with a large number of musicians in the project database.
The future music project will contain its own trends and store.
The goal of the development is to increase the age of the audience, increase the incentive for novice musicians and create their own infrastructure around the main resource.
What Is TikTok and Who Owns It?
Zhang Yiming, a 35-year-old entrepreneur established the Chinese society Bytedance, who developed the TikTok application.
In the past, Zhang had experience in creating a real estate search engine.
In the network there is a very little piece of information about the TikTok creator.
If we will try to summarize, we will get:
- He rarely gives interviews, he has Instagram, where you can see photos in Tokyo, aerial photos, and him standing in front of the first computer. Some photos show your favorite 150ml cans of soda.
- In a 2015 speech at Nankai University, Zhangh revealed some details from life. He is a big fan of biographies and has spent a lot of time in the College library reading books.
- While in College, he earned on creating websites. He was searching for and fixing problems in them. This part-time job helped him to meet his future wife.
Today, this guy is one of the richest people on with a fortune of $16.2 billion dollars.
What Do We Know About the CEO?
The owners of the social network expect that the former head of one of the divisions of the Walt Disney Company will bring TikTok to a new level.
Bytedance has announced the appointment of Kevin Mayer as chief operating officer (COO).
A message about this is published on the official TikTok website.
From June 1, 2020, Kevin Mayer will manage the global development of ByteDance, as well as control corporate processes.
One of its main activities is managing TikTok. The platform is growing rapidly, increasing the number of users and attracting brands to cooperate.
So, at the end of April, it became known that the number of downloads of the app worldwide exceeded the mark of 2 billion.
"Kevin's extensive experience in creating successful global companies makes him the best candidate for our mission to inspire users to be creative.
Kevin is incredibly well placed to take our product to a new level," commented ByteDance owner and CEO Zhang Yiming.
Previously in Walt Disney Company, Kevin Mayer managed the consumer and international divisions.