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China's ByteDance buys Musical.ly teen app for USD 800 mln - report

Friday 10 November 2017 | 09:11 CET | News
Beijing ByteDance Technology has bought teen social video app Musical.ly for around USD 800 million, Bloomberg reported, citing sources familiar with the deal. ByteDance is the company behind Chinese media startup Jinri Toutiao. Bytedance beat out viral video streaming service Kuaishou to get Musical.ly, the sources added. Bytedance announced the deal without giving any financial details. It said the transaction will give it an important US presence, adding Musical.ly's 100 million lip-synching users to Toutiao's own 120 million readers and viewers, while potentially adding a social media

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Categories: Mobile & Wireless
Companies: Comcast / Viacom
Countries: World
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