A figure with which it has managed to surpass Uber, the longtime leader of the list of the most valuable startups in the world, whose current valuation is more than 72 billion dollars. Perhaps you wonder how a Chinese app has achieved such success so soon in the West: the funny thing is that it was thought from the beginning for this market, not like in other cases, such as WeChat and other applications that have wanted to internationalize but have not managed to connect with the preferences of users outside their home market.Īll this growth has made Bytedance the most valuable startup in the world: in October 2018, and thanks to a new investment round of 3 billion dollars (about 2.638 billion euros) from SoftBank, Bytedance reached the extraordinary valuation of 75 billion dollars (about 66 billion euros). The name change came later, and Musically became TikTok At the end of 2017, the Chinese giant Bytedance Technology acquired Musically for no less than 1 billion dollars (more than 850 million euros).
The Musically app was created in 2014 by a couple of Chinese entrepreneurs, Alex Zhu and Luyu Yang, who after launching an e-learning project based on short videos that did not turn out as well as they had hoped and inspired by the acceptance of Snapchat by teenagers in the United States decided to move their venture to social networks. Videos in which young users can do almost anything and then edit with the powerful tools available in the app. TikTok, born as Musically, is a social network that could be compared to a mix between Vine and Snapchat, with which you can create sharing and discover very short videos, ranging from 15 seconds to a maximum of one minute. And precisely, one of the social networks that has positioned itself as a favorite among teenagers is TikTok (formerly known as Musically), an app that squeezes the video format to the maximum.
In an increasingly complex digital world, video has positioned itself as one of the favorite formats for all ages, but especially for the youngest, who are always experimenting with new ways to produce and consume it. 8 Minimum requirements for downloading and installing Musical.ly.
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