An app where teenagers lip synch reportedly got bought for $1 billion
 

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. 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


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...

More about Facebook, China, Online Video, Creators, and Musical.Lyhttp://pubads.g.doubleclick.net/gamp...0&c=1510362839
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