Tiktok owner Bytedance to book $27bn in ad revenue this year November 11, 2020 The Chinese owner of viral video app Tiktok is reportedly on track to pull in at least $27bn (£20.4bn) in advertising revenue by the end of the year. Bytedance, which generates the vast majority of its revenue from ads, has previously stated that its target for overall revenue in 2020 is $30bn, meaning the figure [...]
Tiktok challenges Trump sale order ahead of deadline November 11, 2020 Tiktok has filed a legal petition challenging an order made by outgoing US President Donald Trump that would force the viral video app to sell its US business by tomorrow. In August Bytedance, the social media firm’s parent company, was given 90 days to divest its US operations due to concerns about national security. The [...]
Tiktok to allow MPs to review algorithm over Uyghur censorship concerns November 5, 2020 Social media giant Tiktok will allow UK politicians to review its algorithm, after MPs challenged the firm over censorship concerns and ties to the Chinese government. Tiktok’s UK director of government relations and public policy Elizabeth Kanter said members of the Business Select Committee were welcome to visit its “transparency centre”, to review its algorithm [...]
Tiktok moves into ecommerce with Shopify advertising deal October 27, 2020 Tiktok has made its first major move into social ecommerce after signing a deal with Shopify to allow brands to sell their wares through the viral video app. The tie-up means Shopify merchants will be able to run video ads on the platform, allowing Tiktok users to click through and purchase a product. The feature [...]
Tiktok expands hate speech policy as watchdog launches crackdown October 21, 2020 Tiktok has vowed to do more to remove harmful content as the media watchdog launches a crackdown on video-sharing platforms. In a blog post published today, the viral video app said it was expanding its policy to take into account coded language and symbols used to spread hateful ideologies. Tiktok already removes content related to [...]
Tiktok crashes across UK, Europe, Middle East and Australia October 12, 2020 Tiktok has crashed across the UK, Europe, Australia, and parts of the Middle East, with thousands of users reporting problems connecting to the video platform
London investment firm Centricus makes surprise entry into Tiktok takeover race October 9, 2020 A little-known British investment firm has reportedly emerged as a shock bidder for Tiktok as it looks to derail Oracle’s tie-up with the Chinese viral video app. London-based Centricus Asset Management has been in negotiations with the chief executive of Tiktok’s parent company Bytedance for weeks, the Wall Street Journal reported. The firm is said [...]
The clock is ticking for Oracle to make sense of the TikTok deal September 29, 2020 What does the world’s largest enterprise software firm see in a Chinese video-sharing social networking app? Putting the intense political pressure by the US government to make this deal work to one side, the two businesses seem like chalk and cheese to hard-nosed City investors. One company is a behemoth known for serving the corporate [...]