His rise TikTok, of the video application that touched 1 billion downloads, was the culmination of his action.
Σin case you do not know, the TikTok is a short video application that has managed to become one of the most popular social networking platforms for kids.
It now boasts of 1 billion downloads. But how did it start and how did it come to dominate an already saturated market?
TikTok works as a social media, with users uploading videos covering a wide range of topics, from comic sketches to teen challenges that go viral.
Something that started as a means doomed to failure not only succeeded, but also turned into an application with a huge impact on youth. TikTok is therefore the product of a huge Chinese company, ByteDance, which has grown despite its few years on the market.
Based in Beijing, ByteDance is a technology company that owns a number of the country's popular social media, which is why it is often referred to as "Facebook of China ".
Its owner and CEO is Zhang Yiming, who founded it in 2012. Worldwide unknown outside of China, but inside the country everyone knows him, as he is one of the big names in the local technology industry.
The first product of Zhang and his ByteDance was a news portal, Toutiao, a news platform that served results based on artificial intelligence algorithms. Toutiao has even reached the top of its most popular search engine China, the Baidu!
Zhang then expanded its product range with an app umbrella, most of which were commercially available. Like the Duoshan video calling app and the FlipChat chat app.
Bytedance is now valued at $ 75 billion, making it the largest private company in the world. In September 2016, ByteDance launched a new short-video application, Douyin, which was launched commercially and within a year counted 100 million users and 1 billion videoviews a day!
Douyin was to become TikTok a year later when Zhang decided to launch it outside of China, in selected Asian markets (Japan, Thailand, etc.). There he found a similar short-video app, the famous Musical.ly, which has been sweeping the market since 2014. What did Zhang do to beat the competition?
Bought Musical.ly in November 2017 for $ 1 billion, which closed in less than a year (August 2018), or rather merged into TikTok, transferring all user profiles to its own app.
TikTok has been galloping in the US market ever since, making Zhang even richer.
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