10 Nov Insanely popular lip-syncing app Musical.ly just got acquired for $1 billion
Musical.ly, the massively popular social lip-syncing app beloved by teenagers, has a new owner. Chinese tech firm Beijing Bytedance reportedly just acquired the company for as much as $1 billion, according to the Wall Street Journal.
If you’re not familiar with Musical.ly, just inquire with the nearest teenager or tween. There’s a decent chance they’re among the app’s 60 million active users–or at least have friends who use it. In short, the app lets people record videos of themselves singing or lip-syncing along with popular songs and share them on what has become one of the fastest-growing social media platforms around.
Kinda surprised it wasn’t Facebook who did the acquiring. https://t.co/1RaQErubky
— Harry McCracken ???????? (@harrymccracken) November 10, 2017
How far the Musical.ly craze will continue into the future is anybody’s guess, but for now the buy looks like quite a win for Bytedance in the war over our attention spans.
Source: Fast Company