Evan Spiegel, chief executive of Snap, the parent company of the photo-sharing app Snapchat, said the number of users of the short-video platform TikTok could become more in the future than its rival Instagram. Thanks to TikTok’s popularity, its parent company, ByteDance, has become the world’s most valuable start-up. Analysts at Niko Partners estimate that the short video app has about 400 million active users every day.
“I love TikTok, I’m a big fan of it,” Spiegel said at the Digital Life Design Conference in Munich, Germany, on Sunday. ”
TikTok ranks second only to Instagram in the 2019 Monthly Active Users List, published by App Annie, a research firm owned by App Intelligence.
Spiegel said it was “very likely” that TikTok’s number of users would become larger than Instagram in the future. Instagram reached the milestone of 1 billion monthly active users in 2018.
TikTok’s growth is, in part, thanks to Instagram’s owner, Facebook. ByteDance has long spent money on platforms such as Facebook and Instagram advertising TikTok, essentially stealing users from its biggest rivals.