TikTok is still quite popular and continues to grow; over the past five days since its reinstatement in US app stores, downloads have almost tripled according to Sensor Tower Data. Meanwhile, rival apps such as China’s Xiaohongshu (Rednote) saw temporary increases while TikTok was absent, but now they are experiencing a sharp 91% drop in new user sign-ups.
TikTok was temporarily unavailable on all American app markets for almost a month, following its short-term unavailability for US users on January 19 due to federal restrictions. During this brief downtime, many users had already deleted the application and were unable to reinstall it when service resumed.
As reported by Appfigures, ByteDance, TikTok’s parent company, is estimated to have missed out on approximately $142 million USD in revenue from American consumers during its absence of nearly a month from app stores. Presently, the average daily consumer spending on the app within the US stands around $4.7 million USD.
It remains unclear what TikTok will do next, as President Trump has issued an executive order giving the company a 75-day extension to find a U.S.-based buyer or risk being banned by the federal government. Despite ByteDance’s initial rejection of any sale offers, several potential buyers have expressed interest in acquiring TikTok. These include content creator Mr. Beast, former U.S. Treasury Secretary Steven Mnuchin, Perplexity AI, and most recently Wyoming entrepreneur Reid Rasner, who has proposed a $50 billion USD bid for the app’s purchase.
At this point, we don’t have any formal announcements, but keep an eye on this space for further developments.
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2025-02-21 23:25