Smaller social platforms are adding TikTok-like features as TikTok's future hangs in the balance [Fortune]
Roblox Corporation Class A (RBLX)
Company Research
Source: Fortune
TikTok generates about $16 billion in annual revenue whereas LTK makes “hundreds of millions,” according to a company spokesperson. The fact is that most people have never even heard of LTK. But after President Joe Biden last month signed legislation forcing a TikTok sale or ban, LTK and a handful of other smaller social platforms may be able to take advantage and throttle their growth. “There are opportunities and there are friction points,” says LTK president Amber Venz Box about a potential TikTok ban. As it is, LTK is morphing into a more TikTok-like platform by the day. LTK is now emphasizing video, allowing creators to post more in-depth content about the products they're hawking such as one very TikTok-ish clip about the differences between polyurethane leather stilettos and actual leather ones. The videos can be up to 10 minutes long and feature links to buy the products shown. In recent weeks, social gaming company Roblox has also introduced features that mimic TikTok t
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RBLX
Earnings
- 5/9/24 - Beat
RBLX
Sec Filings
- 5/16/24 - Form 4
- 5/14/24 - Form 4
- 5/13/24 - Form 144
- RBLX's page on the SEC website