TikTok's Rise to Global Markets
TikTok was a short-video sharing app based in China. On November 9, 2017, TikTok's parent company, the Chinese tech company Beijing ByteDance Technology Co. (ByteDance), announced a strategic acquisition of Musical.ly, a popular short-video sharing app based in the United States. With more than 100 million users and similar features to TikTok, Musical.ly was a powerful competitor for TikTok's international expansion into the North American markets. For ByteDance and TikTok, the closing of the Musical.ly acquisition in August 2018 was not the end goal, as it would create another new challenge. Would it be better to keep Musical.ly as a separate platform, as Musical.ly had achieved a good reputation and millions of users in the United States? Or should Musical.ly be replaced to create a global app under the TikTok brand, which was relatively new to the US market? Mengmeng Wang is affiliated with Faculty of Management and Economics, Dalian University of Technology. Noman Ahmed Shaheer Siddiqui is affiliated with University of Sydney. Sali Li is affiliated with University of South Carolina. Liang Chen is affiliated with University of Melbourne. Jingtao Yi is affiliated with Renmin University of China.