Facebook rallies more than 6% following launch of its TikTok competitor

[Nevilledog]

https://www.cnbc.com/2020/08/06/facebook-rallies-more-than-5percent-following-launch-of-tiktok-competitor-instagram-reels.html

Shares of Facebook stock closed up more than 6% on Thursday following the U.S. launch of Reels, a new Instagram feature designed to rival Chinese upstart TikTok.

Reels is a short-form video feature that allows Instagram users to create content with overlaid audio and augmented reality effects, much as they already can on TikTok.

The feature was first launched in Brazil in November 2019, but on Wednesday, Instagram released the feature in the U.S. and other markets as part of its Instagram app.

For Facebook, TikTok has increasingly grown as a threat due to its growing popularity among U.S. teens and young adults. TikTok claims more than 100 million monthly active users in the U.S., a spokeswoman told CNBC.

*snip*

I'm sure it's a total coincidence that trump bands TikTok at the same time Facebook launches a rival app.

[Thekaspervote]

1. Just one more reason to BOYCOTT fb!

[rockfordfile]

2. traitorbook crap

[Raster]

3. Farcebook* and Zuckerfuck* strike again!

Dec 26, 2018
I have DELETED my Farcebook* account. Fuck you #MarkZuckerberg. You are a liar and a traitor, who willingly allowed American's private Farcebook* information to be used by Mercer*s Cambridge Analytica* in their quest to aid the Russians* in SELECTING
@realDonaldTrump as POTUS.