There’s no time like the present for TikTok. Despite U.S. lawmakers’ threats to ban the Chinese-owned social media app, TikTok is brushing regulatory concerns aside and morphing into a global giant, taking on the likes of Alphabet‘s (GOOGL) Google, Facebook-parent Meta Platforms (META), Apple (AAPL), and Amazon.com (AMZN).
TikTok, the unit of Chinese tech company ByteDance with roots in short viral videos, is finding that its brand of social media can open prospects in music streaming, e-commerce, news content, games and more. Meanwhile, its advertising revenue is booming, threatening much bigger rivals in Alphabet, Meta and Snap (SNAP).
And these tech behemoths are feeling the heat. Google aims to derail TikTok with YouTube Shorts, yet turning a profit with its own short video platform could prove challenging. Meta’s Facebook and Instagram are trying to transition to a short…
