A Chinese company has bought the popular social video app musical.ly for $1 billion. Many people pronounce Musical.ly as "". The Chinese company is a technology called Bytedance. The company hopes it will become the Chinese social media site to become a global brand. The Musical.ly app was started in Shanghai in 2014. It now has 60 million monthly users. The app is very with young people. On Musical.ly, users can record and share 15- to one-minute videos of themselves lip-syncing to popular songs. They can edit the videos, make funny , change the speed, add filters and play the videos . People who use the app are called "musers".
Musical.ly is set to become the big thing across the social media . It will probably become a of life for young people, and another for them to share on their mobile phones. Bytedance's chief executive Zhang Yiming explained why his bought the social video app. He said: "By integrating Musical.ly's global with Bytedance's massive user in China and key Asian markets, we are creating a significant global platform for our content creators and to engage with new markets." Bytedance also owns of the world's biggest news apps, called Today's Headlines. This popular news service has 120 million daily users.