Roblox Counting on Older Consumers to Join App, Buy Stock

Roblox, valued last month at $29.5 billion, told prospective investors it is trying to lure older users onto its gaming, concerts and educational platform. Chief executive David Baszucki said the company is counting on older adults not just to join the platform but to buy its stock when it goes public next month. The Apple and Google application has been a top earner during the pandemic, with 2020 revenue jumping 82 percent to $923.9 million and number of hours spent on the platform more than doubling to 30.6 billion. Continue reading Roblox Counting on Older Consumers to Join App, Buy Stock

TikTok Catapults to Level of Facebook, Instagram, YouTube

TikTok has exceeded 1.5 billion downloads — half of them in the past year — and, in the process, has become a genuine competitor of Facebook, Instagram and YouTube. Chinese AI firm ByteDance, owner of TikTok, is valued at $75 billion, one of the world’s most valuable startups. The company is reportedly looking into an IPO in Hong Kong in 2020. Now that it has commanded widespread attention, ByteDance is also under scrutiny over how it stores personal data and if it follows orders from the Chinese government to censor content. Continue reading TikTok Catapults to Level of Facebook, Instagram, YouTube

TikTok Intros Top 100 Video List, Pushes ‘Hotbed of Talent’

TikTok released its TikTok 100, the top videos in areas including beauty and style, sports, pets and dance trends. According to The New York Times, among the niche memes are #TikTokChecks (where users show off locations/objects as “markers of their identity”), VSCO girls (a “subculture consisting of scrunchies, Hydro Flasks and environmentalism”) and “walk a mile” (people creating high heels out of odd objects, to an Iggy Azalea riff. Among its successes, TikTok has made an impact on the music industry and played a role in the breakout success of Lil Nas X. Continue reading TikTok Intros Top 100 Video List, Pushes ‘Hotbed of Talent’