Amid continued uncertainty over the possible banning of TikTok in the U.S., other social networks are gaining ground. Video shopping platform Flip – which allows shoppers to become creators, share reviews and earn money based on interactions on the platform – has become a popular choice for users looking for an alternative social network to ByteDance’s app.
Since the beginning of this year, Flip has gained approximately 250,000 new users every day. On Jan. 19, when the TikTok ban went into effect, the social network saw a twenty-fold increase in new user installs month-over-month, pushing it to the top of Apple’s app store rankings. Users have also been spending more time on the platform since December: 35 minutes per day on average, up from 10 minutes per day previously, according to the app.
As it has begun to gain popularity, the social network unveiled a new creator fund last week that offers up to $100 million in equity to participating creators over the next five years. Grants, tied directly to Flip’s growth, range from $6,000 to $100,000, depending on the creator’s level of commitment. Flip said it aims to distribute up to $1 million per day for the first 30 days of the program.
“This program isn’t just about creating, it’s about becoming a part of Flip’s success,” said the company on its website. According to its data, within 72 hours of the program’s launch, nearly 10,000 influencers submitted applications.
But it’s not just Flip that has gained popularity. Now that TikTok is back for the time being, other Chinese competitors have grown exponentially in user numbers, such as RedNote.
The Chinese platform became the number one app in the U.S. a few weeks ago, followed by Clapper and Flip. After TikTok’s service was restored, it attracted about 700,000 new U.S. users. The app is a combination of Instagram and Pinterest, where users can also make videos similar to those on TikTok. In addition to video, it also allows image and text content to be posted on the app.
TikTok is back online after President Donald Trump signed an executive order postponing a ban on TikTok in the country for 75 days, giving ByteDance more time to sell the platform. Initially, the Chinese company was opposed to the sale of the video platform, but last week the CEO of General Atlantic, Bill Ford, which is a large investor in ByteDance, assured Axios that a deal would happen. Who will step in to buy TikTok has been a subject of much online speculation. Microsoft, Elon Musk, Mr. Beast, and Canadian investor and television personality Kevin O’Leary have all signaled interest in buying the app, while President Trump has endorsed Oracle CEO Larry Ellison, who made a bid to buy TikTok in 2020, when Trump called for the site to be banned, as the potential buyer.
