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

Anusuya Lahiri

Mon, Jan 24, 2022, 10:36 AM1 min read

In this article:

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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