TikTok sues Triller over patent infringement
TikTok and parent company ByteDance filed a lawsuit against rival app Triller. Yahoo Finance’s Melody Hahm shares the details.
Video Transcript
JULIE HYMAN: Triller-- Melody, you've been tracking this story closely. TikTok is actually suing this competitor.
MELODY HAHM: Yes, as if there weren't enough sort of existential problems that TikTok is facing right now, TikTok and its Chinese parent company, ByteDance, did file a case in San Francisco yesterday, in their federal court, responding to actually a patent infringement lawsuit that Triller actually filed back in July. Basically in the lawsuit, Triller had claimed that TikTok was using and stealing its patents and technology for years. Of course, this is as TikTok remains the number one sort of high growth social media platform, regardless of the geopolitical back and forth and drama that we've been facing.
In the latest filing yesterday, TikTok argues that Triller's allegations have quote, unquote "cast a cloud" over ByteDance's overall business, and now they're both saying, hey, the court has to decide from here on out because clearly there is a completely different narrative back and forth. The latest numbers out of TikTok is that 100 million active users per month are on the platform. Triller last month claimed the same metric, although there have been former employees out of Triller who have said there are some shady sort of metric, sort of stretchy-elastic financials that they have witnessed from the inside. So overall, Triller has been a fast-growing platform, but it still has a long way to go in terms of playing catch up with TikTok.
