The popular teen lip-syncing app Musical.ly has been purchased by Chinese firm Bytedance -- the company behind China's major news aggregating service Jinri Toutiao. The details of the deal haven't been disclosed but sources told the Wall Street Journal that the app sold for somewhere between $800 million and $1 billion.
Via: TechCrunch
Chinese firm nabs social video app Musical.ly for as much as $1 billion posted first on http://ift.tt/1tUdcCk
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