ByteDance

Snap CEO: TikTok’s Success Due to ‘Billions And Billions of Dollars’ Spent by Communist China

Speaking at the Code Conference in Los Angeles, Snap CEO Evan Spiegel gave his thoughts on how China-owned TikTok has dominated the online video market in such a short space of time. Spiegel explained how Communist China has overpowered social media through seemingly unlimited spending, saying: “What nobody had anticipated in the United States was the level of investment that ByteDance made into the U.S. market, and of course in Europe, because it was just something that was unimaginable — no startup could afford to invest billions and billions and billions of dollars in user acquisition like that around the world.”

Shou Zi Chew, chief executive officer of TikTok Inc., during an interview at the TikTok office in New York, U.S., on Thursday, Feb. 17, 2022. (Christopher Goodney/Bloomberg/Getty)

Chinese Company Behind TikTok to Make Computer Chips

ByteDance, the Chinese corporation that owns the video microblogging platform TikTok, announced this week that it will begin designing and producing its own computer chips with an eye toward chipsets that will maximize the performance of the company’s video software.

Tik Tok