Social video app, TikTok from ByteDance has been downloaded more than 2 billion times globally on the App Store and Google Play, according to reports.
The latest milestone comes just five months after TikTok surpassed 1.5 billion downloads.
In the first quarter, it generated the most downloads for any app ever in a quarter, accumulating more than 315 million installs across the App Store and Google Play.
The value of the parent company of Tiktok, ByteDance, has also ballooned by 33% from about $75 billion it recorded during a major round of funding two years ago to more than $100billion.
The valuation puts the Chinese company, as high as $140 billion; however, the transactions are done in the private market and may not fully reflect its real worth.
TikTok’s latest surge comes amid the global COVID-19 pandemic, which has seen consumers drawn to their mobile devices more than ever as they look for new ways to shop, work, and connect with others, leading in part to an increase in downloads, engagement, and revenue.
Google Play has accounted for the vast majority of TikTok downloads to date, racking up more than 1.5 billion installs, or 75.5 percent of the total. The App Store, meanwhile, has generated 495.2 million downloads, or 24.5 percent.
Lifetime user spending in TikTok has risen to $456.7 million, more than 2.5 times the $175 million the app had generated when it reached 1.5 billion downloads.
China is the clear leader for using spending in TikTok, generating $331 million, or 72.3 percent of total revenue. The U.S. ranked No. 2, with users spending $86.5 million, or 19 percent, while Great Britain ranked No. 3, accumulating $9 million in revenue, or 2 percent.
The App Store accounted for most of the revenue, accumulating $435.3 million from user spending. Google Play, meanwhile, generated $21.4 million in revenue
