PRESS: Sber may launch TikTok analogue, music service apps

MOSCOW, Jul 18 (PRIME) -- Sberentertainment, a subsidiary of Russia’s bank-turned-ecosystem Sber, is preparing to launch two new social networks: Chipz, an analogue of China’s TikTok with vertical video, which will be released in September, and Punch to create and promote music, business daily Vedomosti reported on Monday quoting a source.

The applications are undergoing a private beta testing, the daily said.

The services are being designed by firm ESN registered by Sberentertainment on February 20, 2021, and the team is headed by the people from media holding Gazprom-Media and infotainment service Yandex Zen.

Chipz is supposed to be a TikTok lookalike that combines a catalogue of content, a video editor, and a social network, with the target audience of users at the age of 13 to 21.

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