Chinese firm Beijing Bytedance acquired Musical.ly for $800 million
Chinese firm Beijing ByteDance Technology Co has acquired Musical.ly, the entertainment social network, for $800 million.
Musical.ly is a creative platform that makes it easy for everyone to make videos. Since it was launched in October 2014, Musical.ly has become a popular social networks for short form video in the United States, Europe, South America and India. (China's Bytedance was founded in 2012 and its flagship product, Toutiao, is the largest AI-powered content platform in China.)
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Filed under Beijing ByteDance Technology Co, China Private Equity
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