Chinese firm nabs social video app Musical.ly for as much as $1 billion

Since its launch, Musical.ly has expanded its content offerings beyond just social lip-syncing video creation. Last year, it spun off a separate live-streaming app called Livel.ly and earlier this year it began offering original mini-shows. In June, a short version of MTV’s Nick Cannon’s Wild ‘N Out, a how-to show called Fashion to DIY For, …

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