The TikTok app by ByteDance Ltd. is displayed in the App Store on a smartphone in a tidy photo taken in Arlington, Virginia.
Andrew Harr Bloomberg | Getty Images
TikTok is fully aware of this The goal CEO, Mark Zuckerberg is re-equipment make Facebook and Instagram apps more like their own popular short video service. But TikTok has no interest in imitating Facebook.
“Facebook is a social platform,” Blake Chandley, president of TikTok for global business solutions, said in an interview with CNBC on Thursday. “They’ve built all their algorithms based on social graphics. That’s their core competency. It’s not ours.”
Chandley, who spent 12 years on Facebook before joining TikTok in 2019, said his former employer is likely to run into problems if he tries to copy TikTok, and will eventually offer a lower experience. consumers and brands.
“We’re a platform for fun,” Chandley said. “The difference is significant. It’s a huge difference.”
Head of the Facebook application Tom Alison told The Verge this week, he sees that TikTok is increasingly stealing a stake in the world’s largest social network. Facebook plans to change its main feed to look more like TikTok, recommending more content whether shared by friends.
“I think the thing we probably haven’t fully embraced or seen is how social this format can be,” Alison told The Verge.
A recent Facebook presentation confirms this. Meta’s share price fell 52% this year, lower than the Nasdaq, which fell 32%. In April the company said Revenues in the second quarter may fall from a year earlier for the first time.
Earlier in the year, Zuckerberg acknowledged increased competition pressure from TikTok and said, “That’s why our focus on Reels is so important in the long run.”
TikTok is owned by Chinese ByteDance, which is privately owned.
Chandley said history was not on Zuckerberg’s side and compared his current problem to the challenge Google encounters when trying to take Facebook into his own game.
“You remember when Google creates Google+, ”Chandley said. On Facebook, “We had military rooms at the time. It was a big deal. “Everyone was worried about that,” he said.
But no matter how much money Google invested in its social media efforts, it could not compete with Facebook, which had become the main place for people to connect with friends and share photos and updates.
“It has become clear that the value of Google is demand and Facebook is really good on social media,” said Chandley.
“I see the same thing now,” he added. “We are really good at what we do. We bring out these cultural trends and this unique experience that people have at TikTok. They just won’t have that on Facebook unless Facebook is completely away from its social values, which I just don’t think will happen. “
Facebook did not respond immediately to a request for comment.
Chandley added that he has deep respect for Zuckerberg and sees Facebook and Google as strong competition. However, he noted that TikTok has many competitors around the world, including companies in e-commerce and live streaming.
Chandley said he had not noticed a slowdown in advertising spending on TikTok, despite reports from companies such as clickwhich told investors that advertising revenue is affected by inflation and the threat of recession. Shares of Snap lost nearly three-quarters of their value this year.
“I heard there will be a slowdown in the advertising market, somewhere between 2% and 6%, but we haven’t seen it,” Chandley said. “We do not see the headwind that some others see.