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Jim Cramer Says TikTok Is Snap on Fire

TikTok has a new CEO. Here's why Jim Cramer says the company is making a ton of money.

TikTok just got a new CEO.

Kevin Mayer, who led Disney's direct-to-consumer (DTC) and international segment, announced his departure from Disney on Monday afternoon.

As head of Disney's direct-to-consumer and international business, Mayer oversaw the launches of ESPN+, Disney+ and the integration of Hulu. The three services were restructured under one business unit starting in 2018.

In addition to his role as TikTok CEO, Mayer will serve as COO of ByteDance, TikTok's parent company.

And, in case you missed it, Jim Cramer talked about TikTok on Street Lightning last week.

Jim Cramer said, "You gotta get some TikTok. It's the hottest company on earth."

In a press release, Disney said that Rebecca Campbell, a Disney veteran who previously was president of Disneyland Resort, will take over Mayer's post. Josh D’Amaro was also named chairman of Disney Parks, Experiences and Products, a post formerly held by Disney's CEO Bob Chapek.

Disputing claims that Tiktok isn't making any money, Jim Cramer says, “TikTok is incredible."

Cramer went on to add that TikTok could give Snap a run for its money. 

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