News Snapshot:
VKontakte Odnoklassniki Efforts to duplicate foreign markets could be a threat to the success of China’s successful cousin Douyin for Facebook. ByteDance Ltd.’s TikTok is working with brands such as Hype Streetwear brand to test app sales in Europe, which will increase competition with Facebook Inc. and blur the line between social media and online shopping. It is hoped to replicate popular video applications abroad for the success of Chinese cousin Douyin, who earned $ 26 billion in e-commerce transactions in his first year. TikTok has started working with markets in the UK’s internal markets, in ways that the app...