TikTok and its Chinese equivalent Douyin ranked as the world’s second most downloaded app last year, but the short video platform operated by ByteDance is facing challenges from both upstart rivals and established players that are starting to embrace short-form content.
TikTok and Douyin amassed a combined 740 million downloads last year, overtaking Facebook and Messenger to become the world’s second most downloaded app behind WhatsApp, according to market analyst Sensor Tower.
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