Social media is one of the internet’s defining components. It’s so entrenched in everyday life, from job hunting to breaking news, that it’s hard to imagine life without it. Social media, however, is also big business, and one that Third Bridge Forum has been learning more about through its Interviews with specialists.
TikTok is one of the recent breakout platforms. Launched in 2016 in China, it is backed by internet technology company ByteDance, which is currently valued at USD 78bn. ByteDance acquired an app similar to TikTok, called Musical.ly, in November 2017, and merged the apps in August 2018, adding to its user base. There was “explosive growth” in 2018, and although the rate slowed in 2019 TikTok is still in growth mode.
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