Gina Wetzler/Getty Images Snapchat is shelling out millions to young users to create viral content on its platform, according to The New York Times. The move signals the company's plans to more heavily take on TikTok, which remains the most popular platform in the short-form video arena. TikTok kicked off a similar program in July with its Creator Fund, a $200 million pool to support company-approved influencers on the platform. Visit Business Insider's homepage for more stories. Snapchat is shelling out millions to young users who create popular, viral content on the platform, according to a report from The New York Times' Taylor Lorenz.

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