Bytedance merged with Musical.ly.

Bytedance, a leading AI-powered content platform, and Musical.ly, one of the world's most popular mobile platforms for short-form video, have agreed to merge. Financial terms were not disclosed. Musical.ly will leverage Bytedance's sophisticated AI technology to enhance the Musical.ly experience for content creators on the platform. Bytedance's AI technology has global application and the company offers a range of products across global markets, including Flipagram, Topbuzz, and TikTok. Musical.ly will also work with Bytedance to develop its presence in new markets including China, Japan, Korea, and Southeast Asia. "By integrating Musical.ly's global reach with Bytedance's massive user base in China and key Asian markets we are creating a significant global platform for our content creators and brands to engage with new markets. At the same time, our global-leading AI technology will help Musical.ly to accelerate their incredible pace of innovation in mobile video creation." Yiming Zhang, Bytedance founder and CEO.