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Tech Crunch reports: “In November, the popular lip-syncing app Musical.ly announced its acquisition by Chinese social media giant Toutiao, owned by Bytedance, in a deal sources said was valued at $800 million to $1 billion. In addition, Musical.ly announced the launch of a $50 million ‘Creator Fund’ that will be used to invest in education, training and community enrichment on the Musical.ly platform, as well as to aid in the discovery and development of new talent.”

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