Social media companies, such as Meta (META) and Google (GOOGL), have a particular interest in the outcome of ByteDance’s TikTok and its potential ban in the United States, Mike Isaac, Nico Grant, and Kate Conger of The New York Times reports. Social media platforms may stand to benefit it a law banning TikTok from the U.S. takes effect on Sunday, since TikTok’s 170M U.S. users would likely spend more time on other apps in response. In private, Meta has dispatched teams to prepare scooping up as many ex-TikTok users as possible, including courting TikTok’s popular influencers and tweaking Instagram features to more align with TikTok, three people familiar with the plans said.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on META:
- Zuckerberg told Miller he won’t obstruct Trump’s agenda, NY Times reports
- Meta planning some corrections to new content policies, The Information reports
- White House looking for ways to keep TikTok available in U.S., NBC News reports
- Meta’s Community Notes Will Not Impact Paid Ads, Company Confirms
- Meta not sharing timeline for Instagram Threads account portability, TC says
Questions or Comments about the article? Write to editor@tipranks.com