Sign up for the Product Hunt Daily
Every Monday - Friday, your daily dose of the very best of Product Hunt

Product Hunt Daily Digest
November 10th, 2017
Three years ago, Musical.ly didn’t exist. According to the Wall Street Journal the company was just acquired for $1 Billion. The official Musical.ly Twitter account retweeted Gary Vaynerchuk's tweet linking to the WSJ article, essentially confirming the acquisition. 💰👏

The acquirer is Bytedance, maker of the popular Chinese news app Toutiao, which recently raised money at a valuation of $20 billion. This is the same company that acquired Flipagram earlier this year.

Musical.ly has taken off with the teens and tweens, who use the app to make lip-syncing videos, and use Musical.ly's live streaming app, Live.ly, to hang out with friends virtually.

The Winners: The company's co-CEOs, employees, investors like Greylock and GGV, and @GaryVee – who has been loudly singing the company's praises for over a year.

The Losers: Facebook's M&A team will have a stern talking to for missing out on this.

Social is hard, and staying power is even harder to achieve. A billion dollar exit in three years is a wonderful achievement. Congrats to the founders of Musical.ly and the team. 🎉

P.S. Musical.ly cofounder and co-CEO Alex Zhu may have the best Product Hunt username there is. 😬
Watch out Yelp and Foursquare. Today Facebook launched a direct competitor to discover events, restaurants, and fun things in your city. It's called Facebook Local. 🗺
Get the best new products in your inbox, daily.