![]() Meanwhile, everyone will always want to connect with their friends and see what they're up to. And talent-based social media apps like TikTok could draw people away from those types of apps, including Instagram. Spiegel says original social media companies like Instagram are more status-based content. And then sort of at the top of the pyramid, which I think is represented by TikTok, is really talent." "As the pyramid gets narrower, you sort of have maybe the next layer, which would be like 'status.'. And that's really what Snapchat is all about," he told the audience. ![]() Spiegel thinks there's a strong potential for TikTok to grow bigger than Instagram and draw engagement away from the popular social media app.Īt the annual Digital Life Design Conference in Munich, he likened the landscape of communication technology and social media to a pyramid: "At the base of that pyramid - the very broad base - is self-expression and communication. ![]() TikTok's parent company, privately held ByteDance, reported 1.5 billion monthly active users and 700 million daily active users across its family of about a dozen apps in July. Snap ( SNAP 9.01%) CEO Evan Spiegel loves TikTok, the short-form video-sharing app that zoomed past Facebook ( META 2.99%) and Facebook-owned Instagram last year to become the second-most downloaded app.
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