Vine had over 200 million active users and Twitter didn't see any potential?! TikTok has over 800 monthly active users in 3 years. I don't know what Twitter was thinking but Vine had a lot of potential. TikTok wouldn't be so big if Vine was kept alive and managed well.
Twitter was thinking: “a free video sharing app is crazy expensive.. we’re burning all our capital on an app that will be near impossible to profit from.”
TikTok is as far as I can tell not profitable either, and they’ve been burning hundreds of millions on ads as well. I’m guessing the CCP will gladly spend a few billions to have a social media platform that’s used all over the world.
Key point is ByteDance as a whole (I haven’t been able to find anything to indicate that TikTok itself is profitable), which happens to be a privately held company. ByteDance’s CEO have also gone on record saying they had a “weak” implementation of Xi Jinping Thought, and promised that ByteDance would “further deepen cooperation” with the Chinese Communist Party to better promote its policies.
