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A Chinese media company has the hugely popular social video app musical.ly for $1 billion. Many people Musical.ly as "musically". The Chinese company a technology giant Bytedance. The company hopes it will the first Chinese social media site to become a global brand. The Musical.ly app was in Shanghai in 2014. It now has 60 million active monthly users. The app is very popular with young people. On Musical.ly, users can and share 15-second to one-minute videos of themselves lip-syncing to popular songs. They can the videos, make funny faces, change the speed, filters and play the videos backwards. People who use the app called "musers".

Musical.ly is to become the next big thing across the social media world. It will probably a part of life for young people, and another thing for them to on their mobile phones. Bytedance's chief executive Zhang Yiming why his company the social video app. He : "By integrating Musical.ly's global reach with Bytedance's massive user base in China and key Asian markets, we are a significant global platform for our content creators and brands to with new markets." Bytedance also one of the world's biggest news apps, called Today's Headlines. This popular news service 120 million active daily users.