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Snap Is Spending $1 Million a Day to Chase TikTok

Snap Is Spending $1 Million a Day to Chase TikTok

To encourage users to create interesting content, Snap will distribute over $1 million every day to top content creators through the end of the year. This seems like a clear bid to steal the spotlight from ByteDance's TikTok, but will it pull users away from the popular short video platform? Why is Snap chasing TikTok?