Chinese company Bytedance has been having a great time with its ever-growing popular app TikTok. The short clips of lip-syncing and dance videos became a hit especially among Gen Z users and propelled the company to the status of more than 1.5 billion downloads worldwide in November, overcoming social media giants like Facebook and Instagram. And now, even other social apps leaders are watching the Chinese app closely – and that’s the case of Snapchat CEO Evan Spiegel.
“I love TikTok,” Spiegel said Sunday on the “Bavaria” stage at the Digital Life Design Conference in Munich, as reported by Bloomberg. “I’m a big fan,” further stating that “It’s possible” TikTok could become bigger than Instagram. During 2019 Q4, TikTok reached nearly 220 million downloads, as disclosed Sensor Tower’s report, becoming the second most downloaded app worldwide during the last quarter of the year, behind WhatsApp only.
Pointed out by marketing experts as a big bet for 2020 when it comes to social media strategies, TikTok has been gaining ground also thanks to its competitors, since the app has long spent good amounts on advertising in other platforms like Facebook and Instagram. Moreover, TikTok users often share their videos produced in the app on their Instagram accounts, raising growing awareness for the Chinese platform.