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Facebook is building Lasso, a video music app to steal TikTok’s teens

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Facebook is working on a new app that it hopes could win back the attention of teens while capitalizing on its recently-attained major label music licenses. Facebook is building a standalone product where users can record and share videos of themselves lip-syncing or dancing to popular songs, according to information from current and former Facebook employees.

The app is designed to be a standalone competitor to Musically, which was a hit with teens and even pre-teens before the 60 million monthly user product was acquired by Chinese tech giant ByteDance for around $1 billion and rolled into the company’s TikTok app. Read More.

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