Facebook founder Mark Zuckerberg, who also owns Whatsapp and Instagram, has admitted that the viral short video app TikTok has defeated Instagram’s scale in India.
This was revealed via a leaked transcript which Zuckerberg shared with his employees.
However, once leaked, Zuckerberg decided to post the entire transcript on his Facebook page, and made it all open.
This reveals us (as pointed out by Mark himself), what the Facebook management thinks and plans about the future.
Mark Zuckerberg: Yes, TikTok Has Defeated Instagram
While communicating his thoughts and plans, Mark Zuckerberg admitted that viral short video app from ByteDance: TikTok has defeated Instagram’s reach and scale in India, within a short time.
As the same time, he also admitted that TikTok is spending heavily in India to market themselves, and this is where they (Facebook/Instagram) are lagging behind.
His leaked transcript (which is now public) stated this about TikTok: “it’s (TikTok) growing really quickly in India. I think it’s past Instagram now in India in terms of scale. So yeah, it’s a very interesting phenomenon.”
Terming TikTok as a marriage between “short-form, immersive video with browse”, he compared their platform with Instagram’s ‘Explore Tab’.
Another admission by Mark Zuckerberg: TikTok’s ‘geopolitial implications’ in India and South Asia.
He said, “I think the geopolitical implications of what TikTok is doing, is quite interesting. I think we have time to learn and understand and get ahead of the trend,”
TikTok’s Reach and Expansion
More than 19.5 crore Internet users in India has TikTok app on their smartphone, and they are growing really fast.
This means that out of 50 crore global users, almost 40% are in India.
In-app revenues on TikTok is also expanding at an amazing pace of 500%, as advertisers are making a beeline to be on the app, and reach millions of new users.
In order to counter TikTok, Facebook will soon launch their own short video app called Lasso, which will be launched strategically in Mexico, a country where TikTok hasn’t reached yet.
The internal memo shared by Mark Zuckerberg clearly states that they are worried about TikTok, and they consider them as their next big competitor.
We will keep you updated, as more details come in.
Comments are closed, but trackbacks and pingbacks are open.