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Chinese firm to acquire lip-synching app Musical.ly for $1 billion

Victor Barreiro Jr.

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Chinese firm to acquire lip-synching app Musical.ly for $1 billion
Musical.ly, which says it has 60 million monthly active users, is being acquired by the company behind China's top news aggregation service, Toutiao

MANILA, Philippines – The lip-synching application Musical.ly is being sold to Beijing ByteDance Technology, which is behind Chinese news aggregation service Toutiao.

While the deal remains undisclosed, the Wall Street Journal said it could go for as much as $1 billion.

A report from TechCrunch also said Bytedance will pay between $800 million and $1 billion for the company.

Musical.ly lets users create video selfies to music, then share the output with their friends. Popular “Musers,” or Musical.ly users, have their own millions-strong following and can engage in brand partnerships with Musical.ly using a revenue sharing agreement. 

The company says it has 60 million monthly active users. – Rappler.com

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Victor Barreiro Jr.

Victor Barreiro Jr is part of Rappler's Central Desk. An avid patron of role-playing games and science fiction and fantasy shows, he also yearns to do good in the world, and hopes his work with Rappler helps to increase the good that's out there.
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