TikTok, known as Douyin in its home market, was launched in September 2016. It was originally launched as a short-form video sharing platform, primarily for lipsyncing and dancing videos. TikTok snowballed into the most popular app in 2019 and 2020. In 2021, TikTok generated an estimated $4.6 billion revenue in 2021, a 142% increase year-on-year. It is expected to surpass 1 billion monthly active users by the end of 2021.”]
Source: https://www.businessofapps.com/data/tik-tok-statistics/