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ByteDance Names Current Company CFO Shouzi Chew as the New CEO of TikTok

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bytedance names current company cfo shouzi chew as the new ceo of tiktok
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So after all the efforts of the US Government to force TikTok to detach itself from its Chinese roots, after the threats of a full ban on the app unless it was sold into US ownership, after various court cases challenging and defending the US Government’s ruling.

After all of this, the single outcome of that entire process, the only thing that’s actually happened in response, is that TikTok has lost a US-based CEO and appointed one from its Chinese parent company instead.

Which seems somewhat ironic, really.

Today, TikTok has announced that current ByteDance CFO Shouzi Chew has been appointed as the new CEO of TikTok. Chew will succeed former Disney exec Kevin Mayer, who lasted around 3 months in the role, before leaving in August last year in the midst of the platform’s stoush with the Trump Administration. 

At the time, it seemed as though Mayer wanted to avoid the potential negative fallout from the company’s ongoing battle with the US Government, but Mayer has since explained that he left because it did indeed seem that a full sale of TikTok was imminent.

As explained by Mayer (to CNBC):

“It did look as if that was a serious ruling by the CFIUS guys, that it had to be divested, and it was going to be divested. The fact is, the job that I signed up for was going to be gone, and I didn’t want to go run a division of Microsoft or Oracle.”

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Microsoft and Oracle, of course, were the leading candidates to acquire TikTok at that time, but the deal, in the end, didn’t end up going ahead. TikTok managed to delay a final ruling through repeated (and costly) legal challenges to the US Government’s order, which meant that the final decision was pushed back till after the US Election. Which then put TikTok’s fate largely in the hands of US voters. If Trump was returned, there was a good chance that he would continue to push for TikTok’s full separation from China.

But with a Biden victory, that meant a fresh set of eyes to look at the TikTok deal. And while the Biden admin is still, reportedly, weighing if and how it tackles security concerns related to TikTok, and the potential that it could share data on US citizens with the CCP, right now, it seems like the push to separate TikTok from its Chinese ownership is off the cards. Which, as noted means that the company has continued unimpacted by the challenge.

And now, it’s appointed a ByteDance exec into the top job at the company.

That also, of course, will mean a change in role for interim head of TikTok Vanessa Pappas, who stepped into the top job to replace Mayer in a temporary capacity. Recognizing her efforts, Pappas will now become the COO of the company, advancing from her previous title as general manager before the acquisition saga.

Pappas has helped guide the company through an incredibly challenging transition period, which has also incorporated the COVID-19 pandemic, and many legal and regulatory challenges, in several regions, as the app expands throughout the world.

Pappas has also had to face a slew of challengers rising up for the app, with Facebook, Instagram, YouTube and Snapchat all adding TikTok clone functionalities over the past 12 months. 

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Now Pappas moves into a role more aligned with her skills and experience, with Chew taking on the more CEO-type responsibilities involved with expansion of the app.

And for clarity, while Chew is currently the CFO at ByteDance, he is actually based in Singapore, so that could lessen the concerns around ongoing linkage with the Chinese Government.

But probably not. The issue that regulatory authorities have is that under China’s cybersecurity laws, any Chinese-owned company has to share user data with the CCP, on request. Whether such a request has been, or will ever be made, we don’t know, but if a request for such did come through, under the law, as it’s constructed, TikTok would, theoretically, have to comply, putting all of TikTok’s user info, on millions of people around the world, into the Chinese Government’s hands.

TikTok has tried to reassure authorities that this won’t happen, repeatedly noting that it would not share foreign user data with the Chinese Government, while ByteDance also, at one stage, tried to say that it was now ‘a Cayman Islands-based business‘, not a Chinese one, as it was now incorporated in the tax haven. 

But it does still seem that its links to China remain strong, which will maintain those concerns.

And as the Chinese regime continues to exert its power, in various global conflicts and relations, those tensions, and issues, will remain.

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Whether that will be enough for the new US administration to take a harsher view of TikTok itself, we’ll have to wait and see.

Socialmediatoday.com

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Snapchat Explores New Messaging Retention Feature: A Game-Changer or Risky Move?

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Snapchat Explores New Messaging Retention Feature: A Game-Changer or Risky Move?

In a recent announcement, Snapchat revealed a groundbreaking update that challenges its traditional design ethos. The platform is experimenting with an option that allows users to defy the 24-hour auto-delete rule, a feature synonymous with Snapchat’s ephemeral messaging model.

The proposed change aims to introduce a “Never delete” option in messaging retention settings, aligning Snapchat more closely with conventional messaging apps. While this move may blur Snapchat’s distinctive selling point, Snap appears convinced of its necessity.

According to Snap, the decision stems from user feedback and a commitment to innovation based on user needs. The company aims to provide greater flexibility and control over conversations, catering to the preferences of its community.

Currently undergoing trials in select markets, the new feature empowers users to adjust retention settings on a conversation-by-conversation basis. Flexibility remains paramount, with participants able to modify settings within chats and receive in-chat notifications to ensure transparency.

Snapchat underscores that the default auto-delete feature will persist, reinforcing its design philosophy centered on ephemerality. However, with the app gaining traction as a primary messaging platform, the option offers users a means to preserve longer chat histories.

The update marks a pivotal moment for Snapchat, renowned for its disappearing message premise, especially popular among younger demographics. Retaining this focus has been pivotal to Snapchat’s identity, but the shift suggests a broader strategy aimed at diversifying its user base.

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This strategy may appeal particularly to older demographics, potentially extending Snapchat’s relevance as users age. By emulating features of conventional messaging platforms, Snapchat seeks to enhance its appeal and broaden its reach.

Yet, the introduction of message retention poses questions about Snapchat’s uniqueness. While addressing user demands, the risk of diluting Snapchat’s distinctiveness looms large.

As Snapchat ventures into uncharted territory, the outcome of this experiment remains uncertain. Will message retention propel Snapchat to new heights, or will it compromise the platform’s uniqueness?

Only time will tell.

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Catering to specific audience boosts your business, says accountant turned coach

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Catering to specific audience boosts your business, says accountant turned coach

While it is tempting to try to appeal to a broad audience, the founder of alcohol-free coaching service Just the Tonic, Sandra Parker, believes the best thing you can do for your business is focus on your niche. Here’s how she did just that.

When running a business, reaching out to as many clients as possible can be tempting. But it also risks making your marketing “too generic,” warns Sandra Parker, the founder of Just The Tonic Coaching.

“From the very start of my business, I knew exactly who I could help and who I couldn’t,” Parker told My Biggest Lessons.

Parker struggled with alcohol dependence as a young professional. Today, her business targets high-achieving individuals who face challenges similar to those she had early in her career.

“I understand their frustrations, I understand their fears, and I understand their coping mechanisms and the stories they’re telling themselves,” Parker said. “Because of that, I’m able to market very effectively, to speak in a language that they understand, and am able to reach them.” 

“I believe that it’s really important that you know exactly who your customer or your client is, and you target them, and you resist the temptation to make your marketing too generic to try and reach everyone,” she explained.

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“If you speak specifically to your target clients, you will reach them, and I believe that’s the way that you’re going to be more successful.

Watch the video for more of Sandra Parker’s biggest lessons.

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Instagram Tests Live-Stream Games to Enhance Engagement

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Instagram Tests Live-Stream Games to Enhance Engagement

Instagram’s testing out some new options to help spice up your live-streams in the app, with some live broadcasters now able to select a game that they can play with viewers in-stream.

As you can see in these example screens, posted by Ahmed Ghanem, some creators now have the option to play either “This or That”, a question and answer prompt that you can share with your viewers, or “Trivia”, to generate more engagement within your IG live-streams.

That could be a simple way to spark more conversation and interaction, which could then lead into further engagement opportunities from your live audience.

Meta’s been exploring more ways to make live-streaming a bigger consideration for IG creators, with a view to live-streams potentially catching on with more users.

That includes the gradual expansion of its “Stars” live-stream donation program, giving more creators in more regions a means to accept donations from live-stream viewers, while back in December, Instagram also added some new options to make it easier to go live using third-party tools via desktop PCs.

Live streaming has been a major shift in China, where shopping live-streams, in particular, have led to massive opportunities for streaming platforms. They haven’t caught on in the same way in Western regions, but as TikTok and YouTube look to push live-stream adoption, there is still a chance that they will become a much bigger element in future.

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Which is why IG is also trying to stay in touch, and add more ways for its creators to engage via streams. Live-stream games is another element within this, which could make this a better community-building, and potentially sales-driving option.

We’ve asked Instagram for more information on this test, and we’ll update this post if/when we hear back.

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