China’s Beijing Bytedance Technology Co. announced on August 1 that it is shutting down the popular musical.ly video app and merge this short video platform into its other platform, TikTok. The two will merge as one upgraded app under the name of TikTok.
Douyin, the most popular short-video platform, announced on June 12 that its number of domestic daily active users (DAU) has exceeded 150 million.
Last week, Tencent filed a lawsuit against Toutiao asking for a token compensation of 1 yuan, or 15 cents USD. A week later on June 1st, Toutiao filed a lawsuit against Tencent to retaliate, but with a demand of 90 million yuan (US$14 million) in compensation.
Ma Huateng, the CEO of the Chinese Internet giant Tencent Holdings, was in the news recently for the screen shot of his altercation with Bytedance CEO on the latter’s WeChat Moment.