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Chinese Firm Buying Lip-Sync App Musical.ly For Up To $1 Billion

Musical.ly, which is based in Shanghai, is being acquired by Bytedance, an artificial intelligence-focused Chinese technology company. In the foreground, the mascot for Live.ly, a live-streaming app. (Bloomberg via Getty Images)
Musical.ly, which is based in Shanghai, is being acquired by Bytedance, an artificial intelligence-focused Chinese technology company. In the foreground, the mascot for Live.ly, a live-streaming app. (Bloomberg via Getty Images)

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