Musical.ly has been purchased for between 800 and 1000 million dollars by the Chinese information company Bytedance Technology, according to sources from the New York Times. It is one of the social networks that has gained the most weight among teenagers , and one of the few created in China that have achieved an international impact in countries such as the United States or Europe.
The company that buys it is Bytedance, which controls the news aggregator Toutiao, which has 120 million users in China. Now, this amount must be added also the 200 million users who have worldwide according to the latest statistics Musical.ly, one of the social networks of fashion among teenagers that has grown the most in recent years.
Toutiao is an aggregator that takes time to evolve into a news and entertainment feed similar to Facebook, in which artificial intelligence is even used to organize the content that is served to users. This has allowed Bytedance to get a large user base in China, but very little presence outside its borders, something in which they will start to rely now on their newly acquired social network.
Musical.ly and its success among teenagers
Musical.ly is defined as a social video network in which you can create, share and discover short videos. In broad strokes we could consider it as a mix between Snapchat and Vine to record videos of 15 seconds. In them you can dance, playback or whatever you can think of while a song plays in the background.
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Some experts have considered that this application has the potential to become the next Snapchat, and among some of its most striking data is having managed to add about 90 million new users over the past year, ranking as number one in applications free in the App Store in twenty countries.
And it is in this future potential that the money that has been paid for it is best understood, since not every day we see companies release a billion dollars for a social network. Whether or not this is the next Snapchat is still to be seen, but it is clear that for a company that has not achieved great impact outside of China like Bytedance is a golden opportunity to start growing internationally.
In any case, at the moment Musical.ly will continue to operate as an independent product, although now it will integrate the artificial intelligence technology of Bytedance. In addition, the strong presence of this company in China will also help it grow in an Asian market in which until now they had not managed to expand.Tags: Musical.ly