Musical.ly, the popular lip-syncing app, was acquired by Chinese tech company Bytedance and rebranded as TikTok in 2018. This merger created a new social media platform that has become more popular than Musical.ly ever was. So why did Bytedance decide to invest in Musical.ly and then change its name to TikTok?
First, Bytedance saw an opportunity to create a global platform that would attract users from all over the world. Musical.ly had already amassed millions of users, but it was mainly focused on the US and Europe; Bytedance wanted to expand into Asia and other regions as well. To do this, they decided to buy Musical.ly and rebrand it as TikTok – a name that was already familiar in many of these regions.
Secondly, Bytedance wanted to create a platform that offered more features than just lip-syncing videos; they wanted their users to be able to create their own music videos, use special effects, add GIFs, and more. This meant adding additional tools like editing software, music libraries, and effects libraries – something that Musical.ly did not have.
Finally, Bytedance realized that they could leverage their technology expertise to optimize the user experience on TikTok in ways that were not possible with Musical.ly alone. They used AI-powered algorithms to suggest videos tailored to each user’s interests and tastes, which led to increased engagement levels on the platform.
Conclusion: Bytedance saw an opportunity with Musical.ly; they wanted to create a global platform with additional features like editing software and AI-powered algorithms for better user experience. These improvements allowed them to expand into new markets and gain more users than ever before – ultimately leading them to rebrand as TikTok in 2018.