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Three years ago, Musical.ly didn’t exist. According to the Wall Street Journal the company was just acquired for $1 Billion. The official Musical.ly Twitter account retweeted Gary Vaynerchuk's tweet linking to the WSJ article, essentially confirming the acquisition. 

The acquirer is Bytedance, maker of the popular Chinese news app Toutiao, which recently raised money at a valuation of $20 billion. This is the same company that acquired Flipagram earlier this year.

Musical.ly has taken off with the teens and tweens, who use the app to make lip-syncing videos, and use Musical.ly's live streaming app, Live.ly, to hang out with friends virtually.

China's Bytedance Buying Video Site Musical.ly

Variety-5 hours ago
China's giant digital content aggregator, Bytedance is to acquire U.S.-based social video app Musical.ly, the companies confirmed on Friday in ...
Social-Media App Musical.ly Is Acquired for as Much as $1 Billion
Highly Cited-Wall Street Journal-13 hours ago

Story image for musical.ly from Music Industry Blog (blog)

Musical.ly Sells For $800 Million But Peaked By Being Too Silicon ...

Music Industry Blog (blog)-5 hours ago
But as with all previous lip synching and music messenger apps, Musical.ly has run into its inevitable user base peak and is now starting its ...
Story image for musical.ly from Digiday

Brands are using influencers on Musical.ly to reach teens

Digiday-Nov 6, 2017
Musical.ly, a lip-syncing app that has more than 200 million mostly teen users, is focused on user growth, but brands like Beiersdorf, Disney ...
Story image for musical.ly from Deseret News

Amy Iverson: Beware of music apps like Smule and Musical.ly which ...

Deseret News-Nov 8, 2017
I used to record myself singing with a cassette recorder and would play it back over and over, wondering if I sounded enough like Marie ...

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Tags: Musical.ly

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