No, Tencent isn’t about to burn Reddit down

Ahoy, it’s doom and gloom for Reddit after the company welcomed investment from Chinese censorship overlord Tencent. Well, not quite. The reality is, in fact, it’s quite the opposite. In recruiting the company behind one of the internet’s largest and vibrant social networks — chat app WeChat — and countless blockbuster games, Reddit has pulled off […]

TikTok parent ByteDance sues Chinese news site that exposed fake news problem

There’s worrying news from China’s online media world as ByteDance, the $75 billion company behind popular video app TikTok is taking a news site to court for alleged defamation after it published a story about ByteDance’s fake news problem in India. U.S. tech firms have come to rely on media to help uncover issues, but Chinese […]

Asian streaming startup M17, still recovering from a failed IPO, raises another $25M

M17, the Taiwanese streaming company that controversially priced on the NYSE but didn’t list, has returned to the private markets after it raised a $25 million funding round. The round was led by Terry Tsang — CEO of Hong Kong-based games company Madhead — with participation from Pavilion Capital, Stonebridge Ventures and existing investors. This new investment follows a $35 […]

The forgotten ‘Facebook of China’ is sold for $20M

Renren, which was once heralded as the ‘Facebook of China’ and later became China’s answer to MySpace after falling out of fashion among its core young users, is selling its social networking business. Renren’s parent company Beijing Qianxiang Wangjing has agreed to sell all tangible and intangible assets of renren.com to Beijing Infinities Interactive Media, […]

Facebook Lasso app lead Brady Voss leaves for Netflix right after launch

Facebook Lasso has a steep uphill climb ahead as it hopes to chase the musical video app it cloned, China’s TikTok (which merged with Musically). Lasso lets you overlay popular songs on 15-second clips of you lip syncing, dancing or just being silly — kind of like Vine with a soundtrack. It’s off to a […]

Facebook launches Lasso, its music and video TikTok clone

Done cloning Snapchat, Facebook is now chasing Chinese short-form video sensation TikTok with the launch of its knock-off Lasso. Available now for iOS and Android, Lasso is Facebook’s answer to the zany mobile lipsyncing playground that’s gained ground with young users, both in China and in the West. The release confirms TechCrunch’s scoop from last month […]

China’s obsession with short videos has its internet giants worried

Take a subway ride in China and expect to see a lot of commuters’ eyes glued to TikTok videos on their phones. Video clips like TikTok’s are now consuming nearly nine percent of Chinese people’s time online, a 5.2 percent jump from 2017, according to app analytics firm QuestMobile. Apps such as TikTok — which […]

China’s ByteDance leapfrogs Uber to becomes world’s most valuable startup

Move aside Uber, China’s ByteDance is now the world’s highest-valued tech startup. That’s according to reports from Forbes and Bloomberg both of which claim that the company has completed a $3 billion investment that values the company at $75 billion. A source with knowledge of the deal confirmed the round to TechCrunch and suggested that […]

Facebook is building Lasso, a video music app to steal TikTok’s teens

Facebook is working on a new app that it hopes could win back the attention of teens while capitalizing on its recently attained major label music licenses. Facebook is building a standalone product where users can record and share videos of themselves lip syncing or dancing to popular songs, according to information from current and […]

Short video service Musical.ly is merging into sister app TikTok

Musical.ly, the short video app that’s popular among teens and young people, is going away. Kinda. The app and all user data and accounts is being merged with Tiktok, a sister app that’s owned by ByteDance, the Chinese company that acquired Musical.ly for around $1 billion last year. The switch-over happens today (Thursday) and it should […]