Bytedance reportedly acquires lip-syncing app Musical.ly for $1bn in a bid to expand its global reach

Popular music video app Musical.ly has been bought by Chinese tech giant Bytedance in a deal worth up to $1bn (£750m) to expand its market reach and tap into the apps technological capabilities.
As reported by BBC, this is the first Chinese social media app to make it big in North America and Europe.
Zhang Yiming, Bytedance's chief executive said: "By integrating Musical.ly's global reach with Bytedance's massive user base in China and key Asian markets, we are creating a significant