TikTok on Monday said that it has amassed more than 1 billion monthly active users in its short lifetime, joining an exclusive club of apps that have already reached that size.
Why it matters: TikTok has continued to grow despite enormous pressure from regulators around the globe and increased competition from copycat products built by its competitors.
- There's no question that pandemic-driven lockdowns helped boost the app's numbers, especially as professional entertainment companies struggled to provide fresh content to users amid production pauses.
Be smart: TikTok, like many other apps, wouldn't have been able to grow so big, so fast, if it weren't for the existing success and enormous scale of Facebook.
- In its earlier years, TikTok spent enormous amounts of money on ads promoting its app to Facebook and Instagram's billions of users.