TikTok logos are seen on smartphones in entrance of a displayed ByteDance brand on this illustration taken November 27, 2019.
Dado Ruvic | Reuters
SINGAPORE — Douyin, the Chinese version of the favored short-video sharing app TikTok, hit 600 million daily active users as of August, parent-company ByteDance stated Tuesday.
Over 22 million creators made greater than 41.7 billion yuan ($6.15 billion) on the platform over the previous yr, ByteDance China CEO Kelly Zhang stated on the Douyin Creator Conference in Shanghai. The firm additionally introduced plans to take a position site visitors sources value 10 billion yuan to help creators and purpose to double their earnings to 80 billion yuan within the coming yr.
Both Douyin and its worldwide version, TikTok, have taken off in a giant method for ByteDance, which is now one of the most valuable privately held Chinese tech firms.
TikTok reported nearly 700 million monthly active users in July and greater than 2 billion in international downloads.
Both purposes have the identical core operate — the flexibility to create and share brief movies with added music and particular results obtainable on the apps.
But Douyin has extra superior options together with a extra detailed homepage, e-commerce, extra refined set-up for official accounts and sponsored challenges, livestreaming and the flexibility to add full-length films, in keeping with a February report from research firm Gartner. Some of these options on Douyin, like e-commerce, are being tested by TikTok.
TikTok is going through a wave of regulatory scrutiny and challenges in its main markets. The app is now banned in India on nationwide safety grounds.
In the United States, the place TikTok has about 50 million daily active users, the White House had imposed a Sept. 20 deadline on ByteDance to give you a plan to promote the video app’s U.S. operations or be banned by Sept. 29. A deal must be performed by Nov. 12. The U.S. authorities stated there have been nationwide safety considerations however TikTok has denied these allegations.
ByteDance on Sunday rejected Microsoft’s bid to purchase TikTok’s U.S. operations. Instead, Oracle will turn into TikTok’s U.S. know-how companion and the enterprise software program large will take a major stake in TikTok’s enterprise, a person familiar with the discussions told CNBC.
It stays unclear if the U.S. government will approve a restructuring plan that will nonetheless hold TikTok’s U.S. enterprise underneath Beijing-based ByteDance’s operational management. Previously, China pushed again on a tentative sale of U.S. belongings, saying it would need to approve a deal that includes exporting the profitable synthetic intelligence know-how utilized by TikTok.