- TikTok's President of Global Business Solutions and former Meta Platforms, Inc (NASDAQ:META) Facebook veteran Blake Chandlee in a CNBC interview, shared how TikTok massively differed from Facebook.
- ByteDance Ltd-owned TikTok did not look to mimic Facebook. In contrast, Facebook struggled to win users by restructuring its Facebook and Instagram apps to emulate TikTok's popular short video format.
- Chandlee did not consider it worthwhile for Facebook to copy TikTok, which could disappoint users and brands.
- Chandlee highlighted TikTok as an entertainment platform instead of the algorithmic-based social platform Facebook, their core competency.
- He saw Facebook only succeeding by walking away from its social values.
- Meta's stock price is down 52% this year versus the Nasdaq, which has dropped 32%. Meta saw the Q2 revenue declining year on year for the first time.
- Recently Facebook app chief Tom Alison acknowledged TikTok's growing market share pressurized Facebook to emulate TikTok irrespective of its acceptability. Meta chief Mark Zuckerberg had also voiced the same opinion earlier.
- Chandlee also reminded how Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) Google failed to compete against Facebook social networking as its core competency was the search engine.
- Price Action: META shares traded higher by 0.45% at $161.60 in the premarket on the last check Friday.
- Photo Via Pixabay
