TikTok is one of the most popular apps for the Gen Z market. As the platform continues to grow and launch new products, new entries from the company and a third-party company are bringing new items to TikTok.
Employee Recruitment: TikTok could be launching a jobs service for the Gen Z market soon. Axios reports the company is testing a tool for brands to recruit employees.
A select number of brands are in beta testing of the product including several “big brands” and sports leagues. Users will be able to launch a TikTok video resume to the site as their elevator pitch to get hired by a potential employer.
The idea behind the video resume platform came from a Washington Post article discussing how Gen Zers were using TikTok to share career advice.
TikTok is one of the largest social media platforms in the world and had 689 million daily users in 2020.
LinkedIn, owned by Microsoft Corporation (NASDAQ:MSFT), is one of many job recruitment services used by potential employers. LinkedIn unveiled a feature to bring professional stories to life with a video cover story. TikTok is targeting its users with a similar platform with this beta test.
Online Dating: A third-party company called Snack is bringing online dating to the TikTok platform with Snack. The company is a “Tinder meets TikTok” dating app, according to TechCrunch, and appeals to Gen Z users who use TikTok.
Snack is one of the first apps using TikToks’s new login SDK for third-party apps.
Snack users can post videos for potential matches. Videos show the users' personalities in ways that static photos can not.
Kim Kaplan, who previously led product, marketing and revenue for Plenty of Fish, founded Snack. Plenty of Fish was bought by Match Group (NASDAQ:MTCH) for $575 million in 2015.
“If you think about Plenty of Fish, we really launched off of Google SEO, then you had Zoosk and Badoo, which launched off of Facebook, then you had Tinder and Bumble which launched off of mobile-first,” Kaplan said.
TikTok is the right opportunity and distribution platform for online dating now, Kaplan added.
“I think the combination of TikTok being the new distribution channel is going to be a massive opportunity — and that’s what we’re trying to leverage."
Snack is attracting users in their 20s and 30s to create video dating profiles thanks to the ties to TikTok, which could make it a major competitor to existing online dating apps given the target age demographic.
Match Group and Bumble Inc (NASDAQ:BMBL) could feel pressure from the growth of Snack or choose to acquire the brand if its exposure to TikTok continues to catch on and grow.
What’s Next: A potential IPO of TikTok parent ByteDance has been put on hold with tensions between the U.S. and China. ByteDance is valued at $400 billion on the private markets and was last valued at $140 billion in March 2020 in a funding round.