News

Abu Dhabi’s G42 Acquires $100 Million Share In ByteDance

The move comes as TikTok considers a separation from its parent company to address ongoing privacy concerns.

Published

2 years ago

March 16, 2023

abu dhabi's g42 acquires $100 million share in bytedance

Thanks to substantial government investment, Abu Dhabi is rapidly emerging as a MENA tech hub, and with that, high-profile investments are taking place on a frequent basis. Abu Dhabi-based AI firm G42 continued the trend by recently acquiring a $100 million-plus stake in ByteDance, the Chinese parent company of TikTok.

G42 is led by the UAE’s Sheikh Tahnoon bin Zayed Al Nahyan, who acquired the stake from existing investors through the 42XFund.

Shortly after the move, another fund invested $225 billion to acquire ByteDance, a figure well off the company’s peak valuation of $460 billion back in 2021.

Also Read: Top 10 Best Video Games Set In The Middle East

It’s thought that G42’s investment was a nod to ByteDance’s long-term potential as the Chinese economy finally begins to rebound from endless pandemic restrictions. The growing enthusiasm for AI could also be part of renewed interest in ByteDance, as TikTok is acknowledged as pioneering algorithms a decade ago to get users hooked on videos and news.

Related Topics:Abu Dhabi ByteDance G42 TikTok

Up Next

Riyadh Air Makes Multi-Billion Dollar Deal With Boeing

Don't Miss

OpenAI Launches ChatGPT-4: What You Need To Know

Click to comment

News

Will Upcoming Changes Turn Instagram Into A TikTok Clone?

Updates are rolling out for the grid layout and Reels length, while new editing tools clearly imitate those of the rival Chinese platform.

Published

3 days ago

January 24, 2025

Nour Nasir

Instagram

Instagram recently faced backlash for swapping its iconic square grid for rectangles, disrupting the aesthetic of thousands of carefully curated profiles. However, the Meta-owned platform isn’t stopping there, after announcing more incoming TikTok-like changes designed to give users greater control over their profiles.

“We launched a new tall grid on profiles this week and I got a lot of feedback, both positive and quite negative,” Instagram head Adam Mosseri shared in an Instagram caption on Monday. “The goal is a simpler, cleaner place that maintains, and even increases, creator control”.

Here are some of the details about further changes we can expect:

Customizable Grids: Users will soon be able to tweak how their posts appear on the grid, including adjusting image crops and reordering posts entirely.
Direct-To-Grid Posts: A new option will allow users to post directly to their profile grid without automatically adding it to their main feed.
Highlights Relocation: Instagram’s Highlights feature will move from above the grid into a dedicated tab, while also becoming part of the profile grid itself.
Longer Reels: Reels are getting a significant upgrade, with the maximum video length jumping from 90 seconds to 3 minutes.

The updates are part of Instagram’s ongoing effort to compete with TikTok, which narrowly avoided a US ban following a 75-day delay granted by President Donald Trump. With the Chinese video platform’s future remaining uncertain, Instagram seems eager to capture disillusioned users by offering features that feel increasingly similar to those of its rival.

Also Read: How To Find & Cancel Pending Instagram Requests

In fact, Instagram’s recent changes go beyond just the app’s layout: On Sunday, parent company Meta launched the standalone Edits app, a clear imitation of TikTok’s popular video-editing tool, CapCut. Additionally, Meta has been enticing creators with cash bonuses to encourage them to post their videos on Instagram and Facebook.

It’s clear Instagram is shifting its strategy to appeal to the short-form video crowd. Whether these changes will win over users or continue to spark discontent remains to be seen.