17.07.2019 20:00:00

Facebook Hires Vine’s Former Leader to Counter TikTok's Growth

Facebook (NASDAQ: FB) owns the world's biggest social network, and its family of apps -- including its core platform, Messenger, Instagram, and WhatsApp -- reaches 2.7 billion monthly active users (MAUs). However, ByteDance's TikTok, which amassed over 500 million MAUs in the past five years, is becoming a thorn in Facebook's side.TikTok lets users create short videos while lip-syncing to music. It's similar to Vine, the short video app which Twitter (NYSE: TWTR) acquired and subsequently scrapped, but it's much more popular -- especially among younger Gen Z users worldwide.Image source: Getty Images.Continue reading
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