Does Facebook own TikTok?

FACEBOOK and TikTok are two social media giants that have faced their fair share of controversy.

As a result of regulators cracking down on tech apps, Facebook has decided to rebrand.

Facebook does not own TikTok

Does Facebook own TikTok?

Facebook, which is a US company, does not own TikTok, a Chinese company.

TikTok is an international version of the Chinese site Douyin, which was released to the Chinese market in 2016.

TikTok is owned by ByteDance which was founded by Chinese billionaire Zhang Yiming.

In 2020, former US President Donald Trump threatened to ban TikTok citing national security concerns.

GettyTikTok is a video sharing app[/caption]

The administration brokered a deal in which cloud technology partner Oracle and Walmart took a stake in TikTok’s US operations.

However, that agreement was shelved by the Biden administration once President Biden came into power.

What companies does Facebook own?

Facebook owns Instagram and WhatsApp as well as Oculus VR, which it acquired in 2014 for $2 billion.

In 2013, it acquired mobile web analytics company Onavo, and in 2011, it acquired Beluga.

What is Facebook changing its name to?

According to The Verge, Facebook is rebranding and the social media network will have a new name as soon as next week.

However, the new name is a closely guarded secret. Allegedly, not even senior leaders at the company know what the new name is.

This rebrand is reportedly going to be a part of a new parent company, which will house other groups like Instagram, WhatsApp, and Oculus.

Facebook has yet to comment on the name change publicly.

Zuckerberg is in the process of creating a Facebook metaverse.

The term metaverse refers to shared virtual world environments which people can access via the internet.

This includes virtual spaces that are made lifelike through technology such as virtual reality or augmented reality.

The future of the internet is leaning towards the conceptions of metaverses, which are shared 3D virtual spaces.

Reportedly, Facebook formed a team earlier this year to focus on creating their own metaverse. The company openly talked about adding over 10K high-skilled jobs across the European Union over the next five years in order to build virtual and augmented reality experiences.

The massive communal cyberspace would allow avatars to step in and out of different activities and universes, all online.