Facebook Inc.’s Instagram has offered financial incentives to TikTok users with millions of followers to persuade them to use a new competing service, an escalation in a high-stakes showdown between the two social-media giants. Instagram has made lucrative offers to some of TikTok’s most popular creators to use the new service, Reels, according to people familiar with the matter. Facebook is planning to unveil Reels next month. The potential payments for some would be in the hundreds of thousands of dollars, some of the people...

Source: Wall Street Journal July 28, 2020 09:33 UTC