As of yesterday, TikTok is now the largest podcast player in the US. As of May 1, 2019 TikTok was the largest app in US podcast downloads.
TechCrunch reports that TikTok was recently acquired by multibillion dollar internet firm Oracle.
This price tag can be interpreted to be anywhere between $8 billion and $16 billion depending on the reports. This means that Microsoft and Walmart were unable to secure TikTok’s asset as it has reportedly been owned by Oracle for less than a year now.
Earlier this year, $50 million dollars was reported by The Wall Street Journal when TikTok was first made available as a trademark application. Microsoft and Walmart were said to be the frontrunners on TikTok.
Microsoft and Walmart pulled out soon after due to TikTok’s legal response to their entreaties. The news of TikTok’s purchase by Oracle was officially announced by Chinese entertainment conglomerate, Tencent.
Tencent is an internet giant in China. It was founded in 1999 by Ma Huateng. Ma is also known as China’s answer to Jeff Bezos. He currently holds an estimated wealth of $31 billion. While Tencent is known to go after all sectors of the market, in China it is especially active in the tech sector.
In 2015, Tencent partnered with streaming platform Hulu. The partnership was completed in 2017. Hulu acquired Wuaki.tv, an independent video streaming app, for $583 million.
TikTok has been the hit app of late. It’s garnered mostly through a variety of viral videos. Over last year, TikTok drew in more attention than the likes of Snapchat and Instagram with its 5 billion daily viewer engagement. Its competitors Snapchat and Instagram are even struggling to draw attention to their Facebook accounts.
The first popular viral video has been “Tickled”, the TikTok version of the viral dance dance from Lil Uzi Vert’s song. The video has around 17 million views. The video was made by Kevin Jaey, a 20-year-old Toglamute student. His parody caught fire, mainly due to his combination of theme music and visuals. His version of Uzi Vert’s track is compared as the 21st century YouTube-y meme. The TikTok remix has become popular among users, which is explained in the following.
TikTok has been continuously drawing attention from millennials and users who are looking for alternative content. The most popular TikTok channels with over 50 million video views are Alfie Deyes and JaiNu, who have 33 million and 30 million followers respectively.
TikTok’s platform has around a billion monthly active users worldwide. The app’s traction is so strong that it is more widely used in Vietnam than any other country. As stated by Bloomberg, TikTok is currently the most popular app in Vietnam, beating out WhatsApp, Messenger, Viber, and Facebook.
The latest data suggest that around 95 percent of TikTok users get their content from YouTube. The TikTok algorithm is based around algorithms that highlight videos from both TikTok and YouTube users. The algorithm for scanning YouTube has been around since its inception. Users are ranked through this machine learning technology.
TikTok also uses YouTube as the source for content. A majority of Facebook and Instagram posts are still sourced from YouTube. So the best way to see your posts on TikTok is to tap your phone’s camera. You will be able to move the video towards you in order to send a Snapchat-like V-Snap.
Despite the popularity of TikTok, people who use it are struggling to determine how the app works. There are even a few technical challenges that users still have to face. At first, users having an unclear idea of what they can and cannot do on the app.
On the first day of the TikTok launch, Googler Evan Doll broke down why the logic of how a video stream gets executed wasn’t built into TikTok.