Musical.ly acquired for $1 Billion (!!!) š¤
Three years ago, Musical.ly didnāt exist. According to the Wall Street Journal the company was justĀ acquired for $1 Billion.Ā The official Musical.ly Twitter account retweeted Gary Vaynerchuk's tweet linking to the WSJ article, essentially confirming the acquisition. š°š
The acquirer isĀ Bytedance, maker of the popular Chinese news app Toutiao, whichĀ recently raised money at a valuation of $20 billion. This is the same company that acquired Flipagram earlier this year.
Musical.ly hasĀ taken off with the teens and tweens, who use the app toĀ make lip-syncing videos, and use Musical.ly's live streaming app,Ā Live.ly, to hang out with friends virtually.
The Winners:Ā The company's co-CEOs, employees, investors like Greylock and GGV, and @GaryVee ā 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.Ā Congrats to the founders of Musical.ly and the team. š
P.S.Ā Musical.ly cofounder and co-CEO Alex Zhu may have the best Product Hunt username there is. š¬
The acquirer isĀ Bytedance, maker of the popular Chinese news app Toutiao, whichĀ recently raised money at a valuation of $20 billion. This is the same company that acquired Flipagram earlier this year.
Musical.ly hasĀ taken off with the teens and tweens, who use the app toĀ make lip-syncing videos, and use Musical.ly's live streaming app,Ā Live.ly, to hang out with friends virtually.
The Winners:Ā The company's co-CEOs, employees, investors like Greylock and GGV, and @GaryVee ā 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.Ā Congrats to the founders of Musical.ly and the team. š
P.S.Ā Musical.ly cofounder and co-CEO Alex Zhu may have the best Product Hunt username there is. š¬
Download Musical.ly š
š Join 500K+ subscribers who get the best of tech every day right to their inbox
HIGHLIGHT
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. šŗ
Sponsored By
WorkOS is a modern identity and user management platform that enables B2B SaaS companies to accelerate enterprise adoption. Free up to 1 million MAUs, WorkOS brings a modular approach to B2B Auth with enterprise-ready features like SSO, SCIM, and User Management.
The APIs are flexible and easy to use, designed to provide an effortless experience from your first user all the way through your largest enterprise customer.
Today, hundreds of high-growth scale-ups are already powered by WorkOS, including ones you probably know, like Vercel, Webflow, and Loom.
Yesterday's Top Products
