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Monthly active users of the app in August were up 25% from the same month last year, according to app store intelligence firm Sensor Tower.

The announcement strengthens TikTok’s place in the competitive ranks of legacy social media platforms like Facebook, YouTube and Instagram owned by Facebook, the latter of which reached 1 billion monthly users in June 2018. In contrast, Snapchat (BREAK), which has been around for almost twice as long, said earlier this year that it has reached 500 million monthly active users. When Twitter (TWTR) last reported this metric in 2019, it had 330 million monthly active users.
During the pandemic, TikTok was successful in attracting more millennials and top creators from Instagram and other sites. TikTok also launched a billion dollar creation fund last year to encourage users to create content on the platform.

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