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TikTok’s uncertain future is good for Snapchat
This appeared in The Millennial Source
The increasing uncertainty over TikTok’s future may be coming as a benefit to other social media rivals, with Snapchat posting good figures for August and looking forward to capitalizing on TikTok’s potential demise in the United States.
With President Donald Trump threatening to ban TikTok’s operations in the US on national security grounds, signing an Executive Order to that effect on August 6, TikTok has been forced to divest its US operations.
Despite reports of numerous companies involved in different bids to secure the US operations of the popular social media app, a deal may be further away than ever. New Chinese export rules have thrown the likelihood of any deal up in the air, with ByteDance founder Zhang Yiming reportedly willing to allow China’s authorities to have the final say on any potential deal with a US company.
Amid this uncertainty, rival apps have attempted to capitalize on the space that is increasingly likely to be left open in the wake of TikTok’s ban. None have so far succeeded to the extent TikTok has and Snapchat, long down on its fortunes, will be looking for this opportunity to reverse course.
