The social media platform Musical.ly is being shut down by its owner Beijing Bytedance Technology Co and has merged the app's community with its other app, TikTok. After their official announcement yesterday (August 2nd), its users were asked to update the app.
After purchasing Musical.ly for more than $800 million in November of 2017, the social media platform has grown to 100 million users. Despite its large community, TikTok has a community of 500 million monthly active users in Asia.
Musical.ly's co-founder Alex Zhu, said “combining Musical.ly and TikTok is a natural fit given the shared mission of both experiences – to create a community where everyone can be a creator.”