TikTok owner now plans to invest $1 billion in India despite the calls to ban the app.According to Meenakshi Tiwari, Forecast Analyst at global market research firm Forrester, while TikTok managed to monetise its offering within one year of its launch through a variety of revenue models like in-app purchase of coins and virtual gifts, advertising accounts for most of its revenue.Similar to Instagram and Snapchat , TikTok invests heavily in influencer marketing. "Lasso is a new stand-alone app for short-form, entertaining videos -- from comedy to beauty to fitness and more. "By focusing on vernacular languages, TikTok has enabled Indians everywhere to share their talent with the world. "For Facebook, it is imperative to thwart TikTok's rising competition. Unfortunately, its previous attempts at making a TikTok clone have failed.

Source: Economic Times July 21, 2019 05:15 UTC