TikTok hits $10 billion user spending milestone

(CNN)– TikTok hit a $10 billion user spending milestone.

The video sharing platform became the first app that isn’t a mobile game to generate 10 billion in global consumer spending.

It’s expected to become the highest earning app ever.

The spending comes from TikTok’s in-app purchases of “coins” which can be used to buy gifts for influencers on the platform.

The gifts are reward for creators for their content and can be cashed out with TikTok retaining 50% of the payout.