What to know about Instagram's rival?

World-renowned video-sharing application TikTok announced that it is working to expand its reach by bringing a platform that would compete with Meta-owned Instagram.

According to the Chinese-owned ByteDance, the application will have a dedicated space for images and text.

Competition in the technology domain all around the world has intensified as last year, Mark Zuckerberg’s Meta introduced Threads to rival Elon Musk’s X, former Twitter.

According to the Tech Crunch, the new application is anticipated to be named as TikTok Notes.

The users of the video-sharing platform observed pop-up notifications about the new application to share photos.

The notification read: "The company is soon launching a new app for photo posts called TikTok Notes and users’ existing photo posts will be shared on the app. Users can choose to not share their image posts to the new app too."

"As part of our continued commitment to innovating the TikTok experience, we’re exploring ways to empower our community to create and share their creativity with photos and text in a dedicated space for those formats," TikTok told the outlet.

The development of the new app comes amid the US mulling to pass a bill in which ByteDance would be forced to sell its stakes to investors in the US or confront a ban.