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11-11-2017, 10:22 AM
An app where teenagers lip synch reportedly got bought for $1 billion
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$1 billion. That was the price tag for what's cool, according to Justin Timberlake Sean Parker's conversation with Facebook cofounder Mark Zuckerberg.
Apparently, it's still true.*
Musical.ly just sold to Beijing Bytedance Technology, the companies announced Friday. The price tag was between $800 million to $1 billion, the Wall Street Journal reported (https://www.wsj.com/articles/lip-syncing-app-musical-ly-is-acquired-for-as-much-as-1-billion-1510278123?mod=e2tw&utm_source=CNN+Media%3A+Reliable+Sources&utm_campaign=7ce4aa3888-EMAIL_CAMPAIGN_2017_06_06&utm_medium=email&utm_term=0_e95cdc16a9-7ce4aa3888-81854633). If you haven't heard of Musical.ly, you may be old — or perhaps you just forgot about it.*
SEE ALSO: Devastated teens lose their streaks after Snapchat goes down (http://mashable.com/2017/11/07/snapchat-down-snap-streaks/)
After launching three years ago, the smartphone app quickly became a viral sensation. The concept was simple: Create 15-second music videos. Tweens and teens became obsessed with lip-syncing to their favorite songs. By 2016, it had attracted 100 million users. It even launched some new social media stars like Jacob Sartorius.* Read more... (http://mashable.com/2017/11/10/musically-bought-chinese-media-company-social-app/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial)
More about Facebook (http://mashable.com/category/facebook/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial), China (http://mashable.com/category/china/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial), Online Video (http://mashable.com/category/online-video/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial), Creators (http://mashable.com/category/creators/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial), and Musical.Ly (http://mashable.com/category/musical.ly?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial)http://pubads.g.doubleclick.net/gampad/ad?iu=/6692/mash.to/rss&pos=atf&tag=ad&mtype=standard&type=rss&sz=300x250&c=1510362839 (http://pubads.g.doubleclick.net/gampad/jump?iu=/6692/mash.to/rss&pos=atf&tag=ad&mtype=standard&type=rss&sz=300x250&c=1510362839)
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$1 billion. That was the price tag for what's cool, according to Justin Timberlake Sean Parker's conversation with Facebook cofounder Mark Zuckerberg.
Apparently, it's still true.*
Musical.ly just sold to Beijing Bytedance Technology, the companies announced Friday. The price tag was between $800 million to $1 billion, the Wall Street Journal reported (https://www.wsj.com/articles/lip-syncing-app-musical-ly-is-acquired-for-as-much-as-1-billion-1510278123?mod=e2tw&utm_source=CNN+Media%3A+Reliable+Sources&utm_campaign=7ce4aa3888-EMAIL_CAMPAIGN_2017_06_06&utm_medium=email&utm_term=0_e95cdc16a9-7ce4aa3888-81854633). If you haven't heard of Musical.ly, you may be old — or perhaps you just forgot about it.*
SEE ALSO: Devastated teens lose their streaks after Snapchat goes down (http://mashable.com/2017/11/07/snapchat-down-snap-streaks/)
After launching three years ago, the smartphone app quickly became a viral sensation. The concept was simple: Create 15-second music videos. Tweens and teens became obsessed with lip-syncing to their favorite songs. By 2016, it had attracted 100 million users. It even launched some new social media stars like Jacob Sartorius.* Read more... (http://mashable.com/2017/11/10/musically-bought-chinese-media-company-social-app/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial)
More about Facebook (http://mashable.com/category/facebook/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial), China (http://mashable.com/category/china/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial), Online Video (http://mashable.com/category/online-video/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial), Creators (http://mashable.com/category/creators/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial), and Musical.Ly (http://mashable.com/category/musical.ly?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial)http://pubads.g.doubleclick.net/gampad/ad?iu=/6692/mash.to/rss&pos=atf&tag=ad&mtype=standard&type=rss&sz=300x250&c=1510362839 (http://pubads.g.doubleclick.net/gampad/jump?iu=/6692/mash.to/rss&pos=atf&tag=ad&mtype=standard&type=rss&sz=300x250&c=1510362839)
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