The phenomenal and speedy rise of TikTok has made the short-video-sharing platform the latest and most-likely-to-succeed front-runner in the race to join tech's inner corporate circle.
Why it matters: TikTok's vast pool of users, fine-tuned content algorithm and accelerating cash machine have made it the upstart that most spooks Facebook, which started copycatting TikTok's format in 2020.
Yes, but: Tiktok's arrival as a competitive challenger to tech's incumbent giants comes with a colossal asterisk — it's owned by a private Chinese company, ByteDance.
There was a time when TikTok could look forward to a future as a spun-off, independent outfit with a lucrative IPO and an independent, publicly traded status from which to compete in the U.S. with Facebook, YouTube and other rivals.
By the numbers: By all measures, TikTok’s momentum is unprecedented. Even though the company is private, an overwhelming amount of data from various analytics providers all point to the app‘s power.
Be smart: Much of TikTok's success is being driven by a new subset of young internet users that became heavily engaged with the platform during the pandemic.
Flashback: Long before TikTok's arrival on the scene, of course, Snapchat held the "most likely to replace Facebook" crown. But after a 2017 IPO Snap Inc. has foundered, with the company announcing 20% layoffs and other product trims on Wednesday.