Tech
Lemon8 chart
Sherwood News

Could TikTok’s sister app, Lemon8, offer a lifeline for ByteDance and creators?

When life gives you laws you don’t like, push Lemon8.

Tomorrow marks one of the biggest days in recent history for ByteDance, and for the most screen-addicted Americans in your life, as representatives from the Chinese tech giant make last-ditch appeals to the Supreme Court to try to divert the US ban on the company’s flagship app, TikTok.

As things stand, a bipartisan bill signed off by Joe Biden last April means that the short-form social-media behemoth would be outlawed in the US on January 19 (next Sunday), unless ByteDance sells the platform to an American company, or the Supreme Court intervenes, or President-elect Donald Trump intervenes, or some as yet unknown outcome saves the app, which reportedly counts more than 170 million users in the US

While a ban wouldn’t automatically wipe TikTok from those 170 million Americans’ devices before they could say the word “rizzler,” new users wouldn’t be able to download it, and a ban on updates would eventually make the platform practically unusable.

Public support for the ban, proposed due to safety concerns around sensitive user data, has been dwindling, with millions of Americans already looking to another ByteDance app as an alternative if the ban goes through.

Lemon8 chart
Sherwood News

According to data from site-traffic tracker Similarweb, more than 2.3 million unique visitors clocked just over 5 million page views on the landing page for Lemon8 in America last month. That number has grown as TikTok creators — some of whom are being paid to do so by ByteDance — push users to the photo- and video-sharing “lifestyle community” TikTok alternative, per Axios.

Though Lemon8, which launched in the US in early 2023 but didn’t take off in the same way as TikTok, might not be the safest port in this particular storm. Indeed, the divest-or-ban part of the bill reportedly applies to other properties owned or operated by ByteDance, meaning that even the replacement app’s future could be in peril.

More Tech

See all Tech
tech

Amazon cuts another 16,000 roles after laying off 14,000 workers in October

Amazon announced Wednesday that its cutting 16,000 roles across the company, having laid off 14,000 workers only three months ago.

“As I shared in October, weve been working to strengthen our organization by reducing layers, increasing ownership, and removing bureaucracy,” Senior Vice President of People Experience and Technology Beth Galetti wrote in the press release. “While many teams finalized their organizational changes in October, other teams did not complete that work until now.”

CEO Andy Jassy previously said that the October layoffs were “about culture” rather than AI-related cost cutting. Galetti says layoffs, now totaling 30,000, won’t become a regular occurrence.

“Some of you might ask if this is the beginning of a new rhythm — where we announce broad reductions every few months. That’s not our plan.”

CEO Andy Jassy previously said that the October layoffs were “about culture” rather than AI-related cost cutting. Galetti says layoffs, now totaling 30,000, won’t become a regular occurrence.

“Some of you might ask if this is the beginning of a new rhythm — where we announce broad reductions every few months. That’s not our plan.”

tech

Anthropic reportedly doubles current fundraising round to $20 billion

Anthropic has doubled its current fundraising round to $20 billion on strong investor demand, according reporting from the Financial Times. The new fundraising round would value the company at a staggering $350 billion. That’s up 91% from September, when it raised at a valuation of $183 billion.

The company reportedly received interest totaling 5x to 6x its original $10 billion fundraising goal, and it’s expected to haul in several billion more than that tally before the current round closes.

Anthropic’s success with enterprise customers and the popularity of its Claude Code product are boosting the company’s momentum as it chases the current valuation leader of the AI startup pack: OpenAI.

The company reportedly received interest totaling 5x to 6x its original $10 billion fundraising goal, and it’s expected to haul in several billion more than that tally before the current round closes.

Anthropic’s success with enterprise customers and the popularity of its Claude Code product are boosting the company’s momentum as it chases the current valuation leader of the AI startup pack: OpenAI.

Produce At Whole Foods Market's Flagship Store

Amazon says it’s doubling down on opening Whole Foods stores. That sounds familiar.

The company says it’ll open 100 Whole Foods locations in the next few years. That sounds similar to plans Whole Foods’ CEO laid out in 2024 for opening 30 stores a year. Since then, it appears to have added 14, total.

Latest Stories

Sherwood Media, LLC produces fresh and unique perspectives on topical financial news and is a fully owned subsidiary of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate, including Robinhood Markets, Inc., Robinhood Financial LLC, Robinhood Securities, LLC, Robinhood Crypto, LLC, or Robinhood Money, LLC.