TikTok Competitor Reels plan to take over.
With TikTok being pulled in India because of border issues. Instagram which is owned by Facebook is going hard after TikTok to take away share.
They reportedly offering money to lure influencers from TikTok to Reels on Instagram, which has a lot of the functionality of TikTok
Information from WSJ says Facebook has offered hundreds of thousands of dollars to creators with the most followers, paying more money to those who agree to post their videos exclusively on Reels, people familiar with the deals said.