CryptoBank.Ltd - Musical.ly Acquired By Chinese Startup for $800M-$1B
" Musical.ly, the lip-syncing app popular with teens and young people, has been sold to Chinese social media giant Toutiao, according to an announcement made today.
The deal is undisclosed but sources tell TechCrunch that Bytedance, the company behind China’s top news aggregator service Toutiao, will pay between $800 million and $1 billion to buy Musical.ly, which claims 60 million users most of whom are based in the U.S" - Jon Russell & Katie Roof - Read Full Article
Source: TechCrunch.com
