A Chinese company bought the video app Musical.ly for $1 billion. The is called Bytedance. It will be the Chinese to be a global brand. Musical.ly has 60 million monthly users. It is very with young people. Users can record and share videos of lip-syncing to popular . They can edit the videos, make funny faces, change the and play the videos . App users are called "musers".
Musical.ly is the next big . Young people will share the videos on mobile phones. Bytedance explained it bought the app. It wants Musical.ly to help Bytedance across Asia and the . It wants to create an "global platform" for its creators and brands to enter markets. Bytedance also owns a popular app, called Today's Headlines. This has 120 active daily .