Recently, Google has announced that it would be buying Firework, a video app similar to TikTok, which would make short-time videos. Firework was on fundraising last year and was valued at $100 million. Currently, Google has not yet disclosed the price at which it would be acquiring the app. Firework is basically an app created by the startup company called “Loop Now Technologies” and was unable to gain fame for the reason of being an app produced by a startup company. With Google approaching to buy the app, it might be a good opportunity for the company to have the spotlight and get known by people.
Interestingly, a Chinese company called Weibo was also said to be buying the app, but the discussions and meetings went well with Google, giving Google the upper hand in the deal. No doubt, TikTok has gained unexpected success, but every good thing has some rivals and so does TikTok. Many companies, after noticing the success of TikTok, have created their own version of the app and have even provided better features in the newer versions.
In 2019, TikTok was reported to be the most downloading app, apart from Facebook, Instagram, and WhatsApp, and has even received many positive reviews and ratings. The app is owned by a Chinese company ByteDance, and due to this success, ByteDance has made a lot of profit.
Not only that, TikTok has even proved to be a tough challenge for Google, as many of the YouTube creators have started using the platform. The app has also created its own stars, giving a chance to the common people to showcase their skills in acting. Many users got so much fame that they were even hired for music videos by renounced music directors. To make sure that TikTok does no more harm to YouTube, Google reportedly decided to acquire Firework and make it a competitor for TikTok. As the app would be acquired by Google, one can expect a tough competition as it is or sure that Firework would have some added features from Google and would attract users due to the “Google” label.
Google has even thought of paying the creators for their content, which was not seen in TikTok. Though it might take some time for Firework to come to the market as the meetings are still going on and the deal has not yet been finalized. Firework already has many users and is available for download on iOS and Play store, though the app has yet not entered India.
Recently, TikTok was even banned in India due to various reasons. Though the ban was short-lived but it has surely hampered the reputation of the app. With Firework coming soon, it would be allowed in India as the app is going to be one of the Google apps and soon Indian users would be able to use it. It has also been reported that Firework might not be available in China, as the country has a vast number of TikTok users and would not be willing to accept an app made from another country.