The popular teen lip-syncing app Musical.ly has been purchased by Chinese firm Bytedance — the company behind China’s major news aggregating service Jinri Toutiao. The details of the deal haven’t been disclosed, but Bloomberg pegs the price at $800 million, while the Wall Street Journal puts it at “$800 million to $1 billion”.
Musical.ly, founded in Shanghai by Louis Yang and Alex Zhu in 2014, exploded in popularity among American teens in 2016 and has since expanded beyond just social lip-syncing video creation. Last year, it spun off a separate live-streaming app called Livel.ly, and earlier this year, it began offering original mini-shows. NBCUniversal has also been creating shows specifically for Musical.ly.
Bytedance, which was recently valued at $20 billion, says that Musical.ly will remain a separate, independent business.
??@vaniccilondon:?? ??? [Tap For Sound] ?? I am feeling incredibly GRATEFUL for accomplishing 5 HUGE projects after coming back from Scotland! I was able to help my 5 private clients reach their 6-Figure Goal, finally! To me, that means a lot as a Marketing Consultant ……………. ?????? like BIG TIME! ?????? This ??BOMB?? right here is my way of sharing the feeling of GRATITUDE to you fellow hustlers as I know most of you are struggling generating sales for your business! …Believe me I know exactly how it feels, boys and gals! We sell this software $97 a pop in the market but I am giving it for the FIRST 100 ACTION TAKERS [FREE-OF-CHARGE] who will be emailing me to get it! This will give you unlimited access to my membership site and for you to have the opportunity to market this video software (if you want of course!)… I’m excited to do this as I’ve never done any giveaway like this worth $1,000… Remember: It’s only UNTIL Sunday, 22nd October so DO NOT MISS OUT ON THIS! I will be sharing this to my other distribution channels (Facebook, Twitter etc.) so you will have other competitors! lol Giving back is one of the most beautiful things that you can EVER do! You should try it sometime! Much love from me, Vanessa ??????