TikTok is creating a $200 million fund that it will use to retain its top users and attract new ones, signaling another milestone for the growing company.
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In a statement Thursday, the video app said the new program aims to"help support ambitious creators who are seeking opportunities to foster a livelihood through their innovative content." TikTok said the fund will start distributing the cash later this year and is one of the few ways users can make money on the app. Previously, users could monetize their accounts only via livestreams or through brand partnerships.
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