TikTok Hits 600 Mln Users Daily

The Chinese version of TikTok app surpassed 600 million daily active users in August, rising from 400 million at the start of the year.

According to China Chief Executive Officer Kelly Zhang, the service produced 41.7 billion yuan, in revenue for more than 22 million creators over the past year and the company intends to spend US$1.5bil, in a push to double that figure over the next 12 months.

Oracle Corp firm explained on Monday, it would team up with ByteDance, which could help keep TikTok operating in the United States.

Like TikTok, Douyin allows users to watch short videos and livestreams and make in-app purchases.

It is currently one of the most popular social media apps in China and its growth is seen as indicative of TikTok's potential evolution.

In contrast, China’s messaging app WeChat, which is owned by Tencent Holdings, reported it had over 1 billion users using the app everyday in 2018. China had 1.6 billion monthly active mobile internet users as of May, according to market researcher QuestMobile.

Later, Oracle announced won a deal to manage TikTok’s US cloud operations. It had been rumored to be part of the bidding process to acquire tha app.

According to The Wall Street Journal that the company has been selected as a trusted tech partner instead. This is different from an outright sale, and appears to suggest Oracle will be helping run TikTok’s US operations with its own cloud technologies.

Oracle has a history of collaboration with the US government, making its partnership with TikTok a strategic move amid the growing undercurrent of Chinese opposition running through the White House and Congress.

On other hand, Oracle’s executives have close ties to the president, and the company may be well positioned to meet Trump’s expectations after the president took an active role in raising concerns about TikTok. The deal would probably involve Oracle, a business software giant best known for selling database technology to corporations to help run their operations, taking a stake in the company.