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Risk of TikTok Ban Has Users Rushing to Download Two Other Chinese-Made Apps [Yahoo! Finance Canada]

Alphabet Inc. - Class C Capital Stock (GOOG)  More Company Research Source: Yahoo! Finance Canada
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Most Read from Bloomberg ByteDance Ltd.'s TikTok faces a deadline of Jan. 19 to find a US buyer in order to continue operating in the country, and the Supreme Court has signaled it's unlikely to oppose the law imposing that condition. Short of a policy reversal by President-elect Donald Trump or ByteDance selling its US service, TikTok will be in breach of the law within a week, triggering the search. Xiaohongshu is China's closest analog to Instagram, combining photos, videos and life updates with an increasing push into livestreamed e-commerce. This week, it became the most downloaded free app on iOS and rose to the top 10 on Alphabet Inc.'s Google Play store for the first time. Many new users labeled themselves “TikTok refugees” as they joined. Started in 2013 in Shanghai, Xiaohongshu is widely used by Chinese-speaking communities overseas and also has an English-language version. The popularity of the app, whose name translates to Little Red Book, in Chinese social media ha [Read more]

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