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Biden’s Reelection Campaign Joins TikTok in Push for Young Voters 

The icon for the video sharing TikTok app is seen on a smartphone, Tuesday, Feb. 28, 2023, in Marple Township, Pa. (AP)
The icon for the video sharing TikTok app is seen on a smartphone, Tuesday, Feb. 28, 2023, in Marple Township, Pa. (AP)
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Biden’s Reelection Campaign Joins TikTok in Push for Young Voters 

The icon for the video sharing TikTok app is seen on a smartphone, Tuesday, Feb. 28, 2023, in Marple Township, Pa. (AP)
The icon for the video sharing TikTok app is seen on a smartphone, Tuesday, Feb. 28, 2023, in Marple Township, Pa. (AP)

US President Joe Biden's reelection campaign joined short-form video app TikTok on Sunday, using the NFL's Super Bowl to kick off its new account to reach young voters ahead of the presidential election in November.

The campaign's launch on TikTok is notable given that the app, which is owned by Chinese tech giant ByteDance, is under review in the US for potential national security concerns. Some US lawmakers have long called for the app to be banned over concerns that the Chinese government could access user data or influence what people see on the app.

Last year, the Biden administration ordered government agencies to remove TikTok from federal government-owned phones and devices.

TikTok has maintained that it would not share US user data with the Chinese government and has taken substantial measures to protect the privacy of its users.

The company did not immediately respond to a request for comment on Sunday.

Biden campaign advisors said in a statement it would "continue meeting voters where they are," including on other social media apps like Meta Platform's Instagram and Truth Social, which is owned by former US President Donald Trump.

The campaign is taking "advanced safety precautions" for its devices and its presence on TikTok was separate from the app's ongoing security review, a campaign official added.

Trump, the Republican frontrunner in the presidential race, does not have an official account on TikTok.

The video posted by the Biden-Harris HQ TikTok account made light of a fringe conservative conspiracy theory that the Super Bowl was rigged in favor of the Chiefs, in order for pop superstar Taylor Swift, who is dating Chiefs tight end Travis Kelce, to announce an endorsement of Biden.

Amid rapid-fire questions asking the president to choose from one of two options, Biden was asked if he was "deviously plotting to rig the season so the Chiefs would win the Super Bowl" or whether the Chiefs were simply just a good football team.

"I'd get in trouble if I told you," Biden joked.

By Sunday night, the account had gained 10,900 followers.

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Technology

Pinterest Shares Surge as Strong Ad Spend Defies Tariff Uncertainty

A keyboard is placed in front of a displayed Pinterest logo in this illustration taken February 21, 2023. (Reuters)
A keyboard is placed in front of a displayed Pinterest logo in this illustration taken February 21, 2023. (Reuters)
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Pinterest Shares Surge as Strong Ad Spend Defies Tariff Uncertainty

A keyboard is placed in front of a displayed Pinterest logo in this illustration taken February 21, 2023. (Reuters)
A keyboard is placed in front of a displayed Pinterest logo in this illustration taken February 21, 2023. (Reuters)

Pinterest shares jumped more than 11% on Friday, after a strong quarterly revenue forecast allayed investor jitters about the uncertainty of advertising spending on its platform amid global economic volatility.

Its robust first-quarter revenue positions it alongside peers Reddit and Facebook-parent Meta, which also saw strong top-line results at a time when deepening global trade tensions have clouded the outlook for many firms dependent on marketing spend.

A shifting US trade policy coupled with escalating geopolitical tensions have sparked fears of a spike in inflation levels and a possible recession, prompting a broader pullback in consumer and enterprise spending.

However, Pinterest's focus on strengthening the effectiveness of its artificial intelligence tools for creating ad campaigns and a growing Gen Z userbase makes it an attractive destination for marketers.

"AI is helping to serve up the right type of ads for different audience segments, which ultimately means there could be a greater propensity to click on the ad if it is relevant," said Dan Coatsworth, investment analyst at AJ Bell.

Pinterest's global monthly active users rose 10% from a year earlier to 570 million in the first quarter, exceeding analysts' expectations according to data compiled by LSEG.

"We believe Pinterest's strategic focus on AI improvements and international expansion is yielding results," said Angelo Zino, senior equity analyst at CFRA Research.

Pinterest flagged a reduction in spending from Asian e-commerce retailers due to the roll-back of the "de minimis" exemption earlier this year, which led notable Chinese advertisers including online marketplace Temu and fast-fashion retailer Shein to slash ad budgets.

Barclays analysts said they expect "trends to worsen in e-commerce advertising" later this year if and when tariffs impact consumer spending.

If gains hold, Pinterest is set to add around $2 billion to its market cap.

The company trades at 14.51 times the estimates of its earnings for the next 12 months, compared with Reddit's 67.65 and Snap's 22.19.