Facebook’s second attempt on beating the platform video platform, TikTok.
Instagram Reels, the new feature that Facebook has launched this Wednesday to compete with the popular video-streaming platform, TikTok.
Facebook has attempted twice to imitate Tiktok. They even have created the Lasso App, which allowed users to record videos up to 15 seconds long with a piece of overlay music. It was launched in 2019. However, just recently, they have launched an additional feature called Instagram Reels that has the same functionality as the Lasso App.
The launching of the Instagram Reels is not a surprise to everybody, but what astound the users is Facebook’s strategy in putting such features into Instagram. This move is a tactical way to boost Instagram as a social media platform and leverage its popularity.
The Instagram Reels
This video editing attribute operates and feels like TikTok. It can cover popular songs and audios online, select augmented picturesque effects, and similarly upload 15-second video clips. There’s also an option there to share the recorded videos publicly.
Instagram Reels was launched initially in Brazil in November. And then later, to France and Germany in June of this year.It went to India last July. It was just recently released in the United States and other countries.
According to Facebook, “Reels gives people new ways to express themselves, discover more of what they love on Instagram and help anyone with the ambition of becoming a creator take center stage.”
It has been observed that Facebook had so much better success adding features to Instagram for competition than creating another app connected to them. For example, the Insta Story, which was inspired by Snapchat.
TikTok’s Future in the US Market
After the reports of Trump pushing ByteDance to sell their TikTok’s US operations, Microsoft has arisen as the potential buyer. Aside from Microsoft’s interest, Apple has shown “serious interest” in buying the popular social media platform, TikTok.
According to Dan Primack from Axios, it has been reported that many sources have told him that Apple has expressed interest in acquiring Tiktok. Still, no one from the Apple company has spoken to regarding this matter. He also stated that it would be an unusual deal for Apple to acquire the cross-platform app, Tiktok, for its political issues in the United States and China.
But how much does it cost a business person to buy shares from TikTok? Quora’s survey mentioned that the valuation of TikTok in 2020 would reach $75 billion. This means that if you invest and purchase this app from ByteDance, the amount may also reach billions of dollars.