The application is owned by ByteDance. They said that TikTok had around 55 million users by January 2018 around the world and that number grew to more than 271 million by December 2018 and 507 million by December 2019.
TikTok COO Vanessa Pappas said, "On behalf of the TikTok team, I want to say thank you. Wherever you are in the world, we definitely couldn't do this without you."
While Facebook has more than 3.51 billion monthly users across its family of apps, up from 3.45 billion in the first quarter.
Other applications like Youtube has over two billion monthly active users.They crossed the one billion mark in the year 2013.
The Chinese company said that its biggest markets are in the Europe, Brazil, US and Southeast Asia.
The company will roll out new updates like adding new warnings to its in-app search which will alert users when results may include "distressing content".