Ever wondered? How tik tok earns money ? Tik Tok today, evaluates a whooping amount of 75 billion dollars. In this article we are gonna discuss about that. So, keep on reading this article to know all the details about tik tok from scratch.
In 2014 Alex Zhu and Luhu Yang launched an educational app in which their main prospective was to put short educational videos with quality content but they failed a big time.
After the failure of their first startup they launched musically just in the same year 2014. They took ideas from Dub smash, Snapchat and Instagram and launched musically as a combination of the features of all the three.
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They basically targeted the youth because today’s generation are always in a chance to do something new with new creative ideas. After the humongous popularity of Musically, a chinese company named as Byte Dance purchased it at a whopping amount of 1 Billion Dollars.
Byte Dance launched its own individual venture in the year 2016 named as Doyin in china and in other countries it was named as Tik Tok and its user base and popularity increased. In august 2018 they merged Tik Tok with Musically and gave it a permanent name Tik Tok.
Byte Dance recently got a funding of 3 billion dollars from soft bank which makes it the most valuable startup. It has already surpassed Uber which had a 72 billion dollar funding as a startup. This 75 billion dollar evaluation is for the whole company
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How Tik Tok Earns Money
Tik Tok basically earns money when a user purchases coins from it which ranges from 60 INR to 8200 INR. Coins are basically a token of love a follower gives to the creator whenever they likes their content.
According to a report in 2018 3.2 million dollar coins were sold out world wide
What is the future of tik tok?
Tik tok has basically 50 million consumers and it runs around 175 countries and also they are planning to launch in app adds in future by collaborating with google which will make them even bigger.
Their aim for 2019 is to earn around 6 billion dollars in 2019.
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