As Instagram grapples with its new all-video strategy, the company is under new attack. In a bid to regain control of its Chinese rival TikTok, Instagram chief Adam Mossery is leaving his Silicon Valley headquarters to settle in London this year. The place is not insignificant. the British capital is the center of the market, where TikTok is super popular among young people and is gaining ground among adults.
“TikTok is Instagram’s toughest competitor.”, recognized the leader. Indeed, an app dedicated to algorithm-recommended videos is monopolizing users and screen time, which Instagram is starting to miss.
In the UK, Adam Mossery has several tools to compete with the influencers of his Chinese rival. London is home to its parent company Meta’s second engineering center, second only to the United States. Working with a dedicated team, Adam Mossery wants to offer options to content creators to grow, retain young people and generate more money. The goal is also to spend less because the boss is counting “Hire a new team of engineers three times cheaper in London than in San Francisco.”according to an interview with a person close to the project Financial Times. It is urgent. As Meta recorded a 1% drop in turnover for the first time in its history.
Source: Le Figaro
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.