Facebook and Google's Clones Can't Stop TikTok's Growth

Since launching globally four years ago, TikTok's user growth has been insane. It started 2018 with about 55 million monthly users, and now it has over 1 billion. Growth has barely slowed over the last 14 months, with the short-form video app adding over 300 million new users in that time.

Meanwhile, the digital ad duopoly of Facebook (NASDAQ: FB) and Alphabet's (NASDAQ: GOOG) (NASDAQ: GOOGL) Google has taken steps to combat the rise of TikTok, which poses a threat to engagement on their platforms. The young video-sharing platform's rapid growth may be the biggest threat either company has seen in the social media space.

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Source Fool.com