Facebook Inc held talks over several months in 2016 to determine whether to buy Musical.ly, a rival app that would eventually evolve into global teen video sensation TikTok.
Facebook ultimately walked away out of concern about the app’s young user base and Chinese ownership, according to a person familiar with the matter. But its interest back then may be pertinent to current government inquiries into Facebook’s history of pursuing and buying out competitors.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!