Today's headlines buy popular social media applications in Europe and the United

The only Chinese social media company that has built a huge overseas user base will be acquired by a rapidly growing Chinese rookie.

Musical.ly is a video-based social network that is very popular among young people in Europe and the United States. It has been bought by Bytedance for about $ 800 million to $ 1 billion, according to one person familiar with the situation, and has "China's headlines" for China's news aggregator service.
The deal connects 120 million Chinese users of today's headlines to about 60 million European and American users of Musical.ly, essentially establishing a link between one China platform and a more international one.

A statement in the acquisition said Musical.ly will continue to operate a stand-alone product despite the close cooperation between the two companies.

Despite the dominant social media services like heavyweights like Facebook and Snap, Musical.ly has made its reputation among teenagers by allowing users to shoot short films and soundtracks. Through this application, young people will perform well-proportioned dances or follow the music.

Subsequently, the company also expanded other video types, such as live broadcast, trying to develop short video shows.

For today's headlines, Musical.ly has made it a foothold in the European and American markets. While superficially aggregating news content, headlines today have evolved into something more like a Facebook news feed.