What is TikTok?
TikTok, often referred to as the international version of Douyin, is an app developed by ByteDance. It operates similarly to Douyin, with the same framework and platform operation model. However, while Douyin is exclusively for users in China, TikTok is accessible to users in over 150 countries worldwide. With over 8.5 billion downloads and more than 3 billion users, TikTok has become the most visited website globally, surpassing Google. It’s akin to what Douyin was three years ago, a blank canvas with numerous opportunities for creativity and monetization.
Why Did Companies Create TikTok?
Currently, TikTok is in the phase of accumulating users and building its video library. The platform is still in its infancy, with a simple rule set and high playback rates. Whether it’s original content or watermark-free videos, both are highly popular on TikTok. Taking Douyin as an example, it’s easy to accumulate a large number of followers, which translates to a significant market and sales potential. If you want to make money, you should not fear new things or failure. With a relatively small number of merchants and low competition, it’s a great time to get involved.
TikTok’s Development Journey
In May 2017, the international version of Douyin was officially launched, with the vision of “igniting creativity and bringing joy.” This vision not only serves as a slogan but also reflects the platform’s deep respect for users’ creativity and expression. In October 2017, ByteDance acquired Musical.ly and integrated it into its portfolio, completely changing the global short video industry. In January 2018, TikTok officially entered the US market, attracting 55 million monthly active users and quickly becoming a favorite among young people. By December 2018, the monthly active user base had soared to 270 million, solidifying its position in the hearts of users. In December 2019, TikTok had conquered 507 million monthly active users globally, becoming a star in the digital world. In October 2020, TikTok sparked a commercial revolution, partnering with Shopify to open new doors for merchants. In December 2020, TikTok partnered with Walmart, expanding its commercial reach and providing a new shopping experience.
TikTok’s Market in Southeast Asia
TikTok, as an e-commerce platform, combines short video entertainment, social media, and online shopping. It’s based on user-generated content and seamlessly integrates short video entertainment with e-commerce shopping, providing an innovative and interactive shopping experience. Users can share their favorite products with friends on social media, promoting word-of-mouth marketing. For merchants, TikTok provides a new sales channel, allowing them to create their own stores and post product information. The platform offers various tools for product management and marketing, helping merchants easily sell products. Additionally, it provides detailed user data analysis tools to help merchants better understand market trends and improve sales efficiency. In Southeast Asia, TikTok has a large user base due to the high proportion of young people in the region. It has adapted to the local culture and language diversity, releasing content that appeals to local users, helping to establish a solid user base in different countries. However, it also faces challenges from local and global competitors, such as intense market competition and compatibility issues with local payment systems.
The Future of TikTok
As TikTok continues to grow and evolve, it faces numerous challenges and opportunities. The platform must continue to innovate and adapt to changing user preferences and market trends. It must also navigate the complex regulatory environment in different countries, ensuring compliance with local laws and regulations. Despite these challenges, TikTok remains a powerful force in the digital world, with a bright future ahead.
| Year | Monthly Active Users | Notable Events |
|---|---|---|
| 2017 | 0 | International version of Douyin launched |
| 2018 | 55 million | Officially entered the US market |
| 2019 | 270 million | Monthly active user base reached 270 million |
| 2020 | 507 million | Partnership with Shopify and Walmart |
