Bloomberg Media is dropping TicToc as the name of its two-year-old social-media news service, rebranding it as “QuickTake by Bloomberg,” reports Todd Spangler of Variety.
Spangler reports, “The move comes as the media company preps the launch of an over-the-top streaming news channel in 2020, with the new QuickTake group merging its TicToc and longer-form digital video teams for a total staff of 80 dedicated to internet video.
“Another reason for the switch: It will help Bloomberg avoid confusion between TicToc and the nearly identically named TikTok, a hugely popular and controversial social-video app from Chinese internet giant ByteDance.
“‘We obviously see the similarities of the names,’ said Jean Ellen Cowgill, general manager of the newly renamed QuickTake by Bloomberg (and former TicToc GM). ‘The other TikTok has been there and has been a factor [in the rebranding decision], but it’s more about leaning into a new name that represents what we’ve become.'”
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