YouTube Working on TikTok Competitor Called Shorts, Google (GOOGL) Stock Over 5% Down

UTC by Daria Rud · 3 min read
YouTube Working on TikTok Competitor Called Shorts, Google (GOOGL) Stock Over 5% Down
Photo: Depositphotos

It will be quite challenging for Shorts created by YouTube to immediately become as popular as TikTok. However, it is possible with its great user base of over 2 billion monthly active users. Google (GOOGL) stock was down yesterday.

TikTok, a well-loved Chinese app that allows users to watch, create and share 15-second videos shot on cellphones, will soon have a competitor. Developed by YouTube and called ‘Shorts’, the rival will be available as a feature inside the YouTube app and function similar to TikTok.

What YouTube Shorts Will Offer

According to the report by The Information, Shorts users will be able to upload brief videos into a feed inside the mobile app. They will also have access to licensed music in the YouTube Music catalog and make videos using those songs.

To surpass TikTok, YouTube’s Shorts should be really special. Since its launch in September 2016, TikTok has acquired 800 million active users worldwide. Over the last two years, TikTok has seen a 125% growth. Notably, The app takes the 9th position in terms of social network sites, ahead of better-known sites such as LinkedIn, Twitter, Pinterest, and Snapchat. Moreover, TikTok is one of the most downloaded apps. In 2019, TikTok surpassed both the one billion and 1.5 billion downloads mark on the App Store and Google Play.

It will be quite challenging for Shorts created by YouTube to immediately become as popular as TikTok. However, it is possible with its great user base of over 2 billion monthly active users. YouTube has already had another experience of developing its own version of a popular feature on another social platform. In 2018, it created something similar to Instagram‘s Stories.

Google (GOOGL) Stock Performance

While YouTube is working on TikTok competitor Shorts, its owner Google (the child company of Alphabet Inc) is showing not the best performance on the stock market. Yesterday, it fell 5.15% to close the session at $1,102.10. However, Google(GOOGL) stock is slightly up today in the pre-market sales. At the moment of writing, it is $1,103.00, or 0.082% up. 

Google has lately seen a huge rise in the demand for its cloud services. This is in response to a shift in business trends due to COVID-19. Earlier, the company launched a new website to inform people about coronavirus. The website provides the official stance of things, gives security tips and more. It gives people a quick brief on the symptoms of coronavirus and features a number of links to external websites with recent news. Besides, based on the location of a searching person, Google puts the local Anti-COVID organizations and health centers into the search results page.

The main feature of the website is truthfulness. As there is a lot of fake information that provokes panic among people and fuels their coronavirus fears, Google has created the portal as a source of trustful data.

Market News, Mobile, News, Social Media, Stocks
Daria Rud
Author: Daria Rud

Daria is an economic student interested in the development of modern technologies. She is eager to know as much as possible about cryptos as she believes they can change our view on finance and the world in general.

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