Chinese tech firm Bytedance is the owner of social-music-video app TikTok (called Douyin in its home country) which is growing rapidly around the world. However, Bytedance has just launched a new app in China called Duoshan, which TechCrunch describes as a mixture of TikTok and Snapchat.
“Unlike TikTok, which incentivizes users to follow celebrities and strangers, Duoshan is built for private messaging,” it reported. “It offers a dazzling selection of special effects and filters, as most other short-video apps do these days. The twist is that videos disappear after 72 hours to provide stress-free, off-the-cuff sharing.”
Bytedance may need a boost: in separate news, Bloomberg claimed that the company only narrowly hit the low-end of its revenue targets for 2018 – although note, that’s still 50bn yuan (around $7.8bn) for the year. “It reached the lower end of the target, the first time in years it hasn’t beaten its forecast, because it delayed monetizing new functions and China’s slowing economy dampened spending on ads,” claimed Bloomberg. The company was valued at $75bn last time it raised funding.