Facebook to Take TikTok Rival Global

Facebook (NASDAQ: FB) will go global with its answer to TikTok. The alternative product, called Instagram Reels, allows users to make 15-second video clips set to music. This comes when Facebook has just shut down Lasso, the app seen as Facebook's answer to TikTok.

The tech giant first launched Instagram Reels in Brazil in November. It subsequently took this product to both France and Germany in June. Now, it prepares to take Instagram Reels global as it likely looks to seize an opportunity.

TikTok, the video-sharing product built by China-based ByteDance, has come under scrutiny in recent weeks. Due to its ties to China, the U.S. government perceives the app as a potential security risk. Secretary of State Mike Pompeo has talked about banning, or at least limiting, the use of TikTok.

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Source Fool.com