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How are Facebook and TikTok owned?

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How are Facebook and TikTok owned?

Two of the most widely used social media sites worldwide are Facebook and TikTok.

TikTok has swiftly increased in popularity over the past several years, especially among younger users, despite Facebook’s far longer existence.

While attending Harvard University, Mark Zuckerberg, Dustin Moskovitz, and Eduardo Saverin launched Facebook in 2004. Prior to being made available to students at other universities and then the general public, the platform was first only available to Harvard students. Currently, Facebook is the most popular social networking platform on the planet with over 2.8 billion active users each month.

Users can connect with friends and family on Facebook, join groups, create pages, and share messages, photos, and videos. Facebook Marketplace for buying and selling goods, Facebook Watch for watching films, and Facebook Messenger for texting and video conversations are just a few of the features that have been added to the platform throughout time.

On the other side, Chinese tech company ByteDance introduced TikTok in 2016. The app enables users to make brief music-driven videos that can be shared with other users. With over 1 billion monthly active users, TikTok soon became popular, especially among younger users.

One of the primary contributors to TikTok’s success is its algorithm. Users may easily find fresh and interesting information on the app’s “For You” page since it employs artificial intelligence to display content that is catered to their interests and preferences.

The way Facebook and TikTok monetise their services is one of their main distinctions. The majority of Facebook’s income comes from advertising, which lets companies target users based on their habits and interests. On the other hand, TikTok has taken longer to monetize its platform; the majority of its income comes from in-app purchases and collaborations with sponsors.

Over the years, both platforms have come in for criticism and debate. Facebook has been under fire for how it handles user data and how it contributes to the spread of false information and hate speech. Because to its associations with the Chinese government and worries about the security and privacy of user data, TikTok has come under fire.

How are Facebook and TikTok owned?

TikTok and Facebook are owned by distinct businesses.

Meta, a publicly traded business, owns Facebook. One of Facebook’s co-founders, Mark Zuckerberg, serves as the organization’s CEO and major shareholder. Mutual funds and a variety of institutional investors make up additional significant owners.

ByteDance, a Chinese tech startup, is the owner of TikTok. Zhang Yiming launched ByteDance in 2012, and it has expanded quickly in recent years, now valued at over $400 billion. Zhang Yiming is presently the CEO of ByteDance, which manages a number of well-known apps in addition to TikTok, including Toutiao (a news app), Xigua Video, and Douyin (the Chinese counterpart of TikTok) (a short video app).

ByteDance has come under fire for its ties to the Chinese government, which has raised questions about data security and privacy. As a result, the business has moved its data storage outside of China and hired local executives in important areas like the United States in an effort to separate itself from the Chinese government.

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