Originally, this should be a great opportunity seized by international social giants such as Facebook and Twitter, but they were also regulated by the Indian government due to factors such as harmful content, lax privacy and network security protection. In mid-2020, India’s policy made Chinese mobile apps disappear from the Indian market overnight, including TikTok, which is in the limelight, and a large share of the social field has been vacant. But in fact, the high growth of the Indian market has benefited more from the competitive environment than its own operation. Spiegel is quite complacent, ‘We have made significant investments to localise the Snapchat experience for the Indian community. Snap found that the content released in 2021 increased by 200 per cent compared with 2020, covering 70 local Indian channels, involving news, fitness, fashion, entertainment and comedy. So why did Snap fall first? How did TikTok negatively affect its performance? Being shrouded in capital market concerns, Snap’s stock price fell from $US83 to $US9, a proper reverse tenfold. Meanwhile, insider intelligence predicts that TikTok’s digital ad revenue will triple this year to nearly $US12 billion, with a market share of 1.9 per cent, more than Twitter and Snap combined.

A study by Similar web showed that in the first quarter of this year, TikTok ads traffic increased by about 200 per cent from the same period last year, while Snap declined by nearly nine per cent.

Not only users who change their minds, but also ad investors. TikTok takes the top spot from Snapchat for the first time in Piper Sandler’s survey. TikTok stomped Snapchat as hard as the elephant in the room. The remaining budget for 2022 will also be assessed for additional cost savings. Around the same time as the earning call was issued, Spiegel also revealed in a memo to employees: the pace of hiring for unopened roles will slow.

The deterioration of the environment has exceeded expectations. TikTok surpasses Snapchat as the most popular social media app among teens

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