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China's TikTok overtakes Facebook as the world's most downloaded social media app

Keep up with the business and financial stories that matter in the technology industry across emerging markets globally, curated by the Techloy News team.
China's TikTok overtakes Facebook as the world's most downloaded social media app

Welcome to The Draft, a Techloy series that highlights the most interesting business and financial stories in the technology industry across emerging markets globally. Curated by the Techloy News team.


  • China's TikTok has overtaken Facebook as the world's most downloaded social media app in 2020, ahead of Facebook-owned apps Messenger, WhatsApp, and Instagram, according to Nikkei, citing data from App Annie.
  • South Africa's Competition Tribunal has approved that JSE-listed Transaction Capital will buy a controlling 74.9% stake in the South African online car marketplace, WeBuyCars.
  • Southeast Asia's technology startups could be collectively valued at $1 trillion by 2025, from $340 billion in 2020, according to Southeast Asian venture capital firm Jungle Ventures.
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