Deal Snapshot
BYTEDANCE TO ACQUIRE MUSICAL.LY TO EXPAND GLOBAL REACH IN VIDEO-SHARING PLATFORM
Tuesday 14 November 2017

China-based digital-content aggregator Bytedance Ltd. has agreed to acquire California, US-based social entertainment app Musical.ly in a merger agreement to expand global reach in video-sharing platform market, the company said.
The company did not disclose financial details of the transaction. Bloomberg reported the deal is valued at approximately USD 800m. China Daily reported Bytedance will acquire Musical.ly for USD 1bn. TechCrunch reported Bytedance, owner of Chinese news aggregator Toutiao, is valued at USD 20bn. Bytedance said Musical.ly will continue to operate as an independent platform, integrating Bytedance's AI technology and strengthening its position in China and Asia.


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Details
Date Published: 14/11/2017
Target: Musical.ly
Country: USA
Deal Size: 800m (USD)
Sector: Media
Type: Corporate acquisition
Financing:
Status: Agreed
Vendor:
Buyer: Bytedance Ltd
Comment:


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