Is Snap Getting Too Cozy With ByteDance's TikTok?

TikTok, the short video app created by Chinese start-up ByteDance, has emerged as a disruptive threat to traditional social networks since its launch three years ago. It was the most downloaded non-game iOS app in the world in 2018, according to Sensor Tower, and currently reaches over 500 million monthly active users (MAUs).

TikTok's meteoric rise prompted many tech giants to launch similar apps, including Facebook's (NASDAQ: FB) Lasso, Tencent's (OTC: TCEHY) Weishi and Hotpot Video, and Baidu's (NASDAQ: BIDU) Haokan. Yet none of those apps is gaining any meaningful ground against TikTok.

Image source: Getty Images.

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Source Fool.com