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High Times for TikTok

This is a syndicated repost courtesy of Statista | Infographics. To view original, click here. Reposted with permission.

The coronavirus pandemic aided or at least coincided with a high demand for videosharing app TikTok in app stores around the globe. Analytics platform Airnow Data counted almost 76 million monthly downloads in March of 2020 and a still respectable 44.6 million in August. This puts the app firmly ahead of competitors for 2020 downloads.

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But the success of the platform has been anything but rosy for Chinese owner ByteDance, which stands accused of breaching data security, especially in regard to shielding the user data it collects from the Chinese government. The app has been banned in India over similar concerns, following a border dispute between the country and China. In early August, the U.S. gave ByteDance a 45-day deadline to sell the U.S. operations of TikTok or get banned also. On Monday, the Wall Street Journal reported that Oracle would be taking over the app’s U.S. business, but characterized the deal as more of a partnership agreement. It was unclear, the WSJ reported, whether knowledge of any algorithms would be transferred.

Microsoft had been the main contender for the takeover, but according to a WSJ source, had more ambitious plans for the undertaking.

This chart shows global monthly downloads of TikTok, Instagram and Facebook on the Android and Apple app stores in 2020.

global monthly downloads social media apps

Wall Street Examiner Disclosure: Lee Adler, The Wall Street Examiner reposts third party content with the permission of the publisher. The opinions expressed in these reposts are not those of the Wall Street Examiner or Lee Adler, unless authored by me, under my byline. I curate posts here on the basis of whether they represent an interesting and logical point of view, that may or may not agree with my own views. Some of the content includes the original publisher's promotional messages. No endorsement of such content is either expressed or implied by posting the content. All items published here are matters of information and opinion, and are neither intended as, nor should you construe it as, individual investment advice. Do your own due diligence when considering the offerings of information providers, or considering any investment.

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