Facebook launches its TikTok rival, Instagram Reels

Re:Facebook launches its TikTok rival, Instagram Reels by abc-xyz on Wednesday August 05, 2020 @04:19PM (#24065101)

Twitter was thinking: “a free video sharing app is crazy expensive.. we’re burning all our capital on an app that will be near impossible to profit from.”

TikTok is as far as I can tell not profitable either, and they’ve been burning hundreds of millions on ads as well. I’m guessing the CCP will gladly spend a few billions to have a social media platform that’s used all over the world.

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Re:Facebook launches its TikTok rival, Instagram Reels by kantspel on Thursday August 06, 2020 @02:57AM (#24068733)

Is the CCP funding ByteDance? Anyway a quick google suggests they made a tidy 3 billion profit (ByteDance as a whole) https://www.cnbc.com/2020/05/27/tiktok-bytedance-profit.html

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Re:Facebook launches its TikTok rival, Instagram Reels by abc-xyz on Thursday August 06, 2020 @06:18AM (#24069635)

Key point is ByteDance as a whole (I haven’t been able to find anything to indicate that TikTok itself is profitable), which happens to be a privately held company. ByteDance’s CEO have also gone on record saying they had a “weak” implementation of Xi Jinping Thought, and promised that ByteDance would “further deepen cooperation” with the Chinese Communist Party to better promote its policies.

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