The app known for its short videos has unveiled its $200 million funds that will be used to “help support ambitious creators who are seeking opportunities to foster a livelihood through their innovative content.”
The announced fund is said to be just the starting amount, according to a report by CNN. As long as a user is eligible – 18+, based in the US, and with consistent original videos – there will be more chances to earn aside from livestreams and brand partnerships. The fund is expected to be distributed in late 2020.
This move may just work for the platform’s top creators who seem to be moving on to greener pastures like the D’Amelio sisters who just partnered with Morphe, although none have confirmed leaving the 3-year-old app yet.
Despite its battles with the Trump administration, TikTok is not backing down by taking steps forward. News broke last week that US investors are trying to purchase the app and are currently discussing it with the US Treasury with other regulators. This ambitious plan may just save TikTok from losing its US-based users.
TikTok is also working to expand its global workforce by attempting to hire 10,000 people in the US withing 3 years, turning to tech giants Google and Facebook, which is not a surprise considering TikTok employs 172 former Google employees and 165 Facebook ex-employees worldwide.
Some of the Chinese app’s notable hires include Chen-Lin Lee (worked for Facebook for 9 years), Blake Chandlee (former Facebook VP of Global Partnerships), Raymond Chen (former Google technical recruiter), and Trevor Johnson (worked for 11 years in Facebook and former director of Instagram’s market operations in EMEA).