Sber prepares to launch TikTok-like product

International Business News  –  Sber subsidiary sberinterteinment is preparing to launch an app Chipz in September, which is similar to China’s TikTok with vertical video, Russian newspaper St.

The newspaper reported that sberinterteinment, a subsidiary of Sber, is preparing to launch two new social networks, Chipz and Punch, for making and promoting music, similar to the TikTok offering with vertical video. The application is currently in the closed beta testing phase.

The service should be a TikTok-like offering, based on Chipz’s video presentation, the paper wrote. The target audience of the project is young users between the ages of 13 and 21. According to sources at the newspaper, Chipz is planned to be launched in September.