NUSADAILY.COM-JAKARTA – Facebook shares immediately rose 6.5 percent to the level of USD 265.28 per share at the close of trading on Thursday, August 6, 2020. The increase was allegedly due to the social media giant launching the latest Instagram feature, Reels, which is similar to TikTok.
The reels that sparked Facebook shares were the short video feature on Instagram. Where users can create videos with their audio and effects, it is very similar to TikTok.
This feature was limited in Brazil in November 2019. But last Wednesday it was officially launched on Instagram in the US and several other countries. This was quoted by NusaDaily from CNBC via Beritasatu.com
TikTok continues to grow to rival Facebook as the favorite social media for teenagers and young people in the US. TikTok claims to have 100 million monthly active users in the US alone.
For this reason, senators and US President Donald Trump are frustrated by the Chinese application. (yos)