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Benzinga
Benzinga
Technology
Anusuya Lahiri

Alibaba, TikTok Parent Launch Interest-Oriented Social Apps: Report

BABA (Organization) TikTok Taobao ByteDance Alibaba Group Holding Ltd ByteDance Ltd NYSE Pandaily
  • Alibaba Group Holding Ltd (NYSE:BABA) owned online shopping platform Taobao launched an interest-oriented community app called "Yousha" Pandaily reports. 
  • TikTok parent ByteDance Ltd's news and information content platform Toutiao tested a smart reading app called "Shiqu." 
  • The report adds that both the apps drive social interaction with personal interests, creating an interactive platform similar to friend circles.
  • Yousha pays attention to recommending content to its users, hoping to encourage them to consume products on Taobao.
  • ByteDance's Shiqu focuses on reading content based on personal interests.
  • The Yousha app promotes itself as a "research institute" of good products with exciting trends. People with similar preferences can gather to share high-quality items and get to know each other.
  • Price Action: BABA shares traded lower by 4.24% at $118.00 on Monday's last check.
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