HomeAbout

TL;DR CNBC


ByteDance is pushing a new app in the U.S. as TikTok faces a ban - TL;DR CNBC

ByteDance is pushing a new app in the U.S. as TikTok faces a ban

Publishing timestamp: 2023-04-24 23:08:55


Summary

ByteDance is promoting its new social media app, Lemon8, in the US as a potential alternative to TikTok and Facebook/Instagram. Lemon8 is a lifestyle app that focuses on health, wellness, and beauty, and has quickly gained popularity, becoming the second most downloaded lifestyle app in the US in the last 30 days. Lemon8 uses recommendation algorithms similar to those of TikTok, and its rise in popularity comes as US lawmakers consider whether ByteDance needs to divest its stake in TikTok. While promoting Lemon8 could be seen as a competitive move by ByteDance, analysts say that creating another app to replace TikTok is not a quick solution for the company.


Sentiment: NEUTRAL

Tickers: PINS

Keywords: internetbusiness newstechnologyasia economypinterest incsocial mediaunited statescybersecurity

Source: https://www.cnbc.com/2023/04/25/bytedance-pushes-lemon8-app-in-the-us-as-tiktok-faces-a-ban.html


Developed by Leo Phan