China news site to pay $1bn for lip-syncing music video app

, , Comments Off on China news site to pay $1bn for lip-syncing music video app

The owner of Chinese news aggregator Toutiao has agreed to pay as much as $1bn for Musical.ly, the maker of a social media app that specialises in lip-sync music videos. According to people familiar with the deal, Bytedance will pay nearly twice Musical.ly …
( read original story …)