It’s rare for a month to go by without a controversy to blow up involving ByteDance. Unusually, however, this month’s has nothing to do with its TikTok app.
Social music app Flipagram has been rumoured to be seeking an exit for some time now. Yesterday it got it, after being acquired for an undisclosed amount by Chinese news-apps firm Toutiao.
The deal will see Flipagram, which helps people create and share videos using licensed music courtesy of its deals with rightsholders, continue as an independent entity.
“Toutiao aims to expand its footprint in the United States and intends to invest in and grow the Flipagram team as appropriate,” is how the announcement put it.
There is confusion around the status of video-sharing app Flipagram, which famously raised $70m and signed label licensing deals in July 2015. Digital Music News claimed yesterday that Flipagram was […]
In July 2015, Flipagram raised $70m and signed licensing deals with all three major labels plus Merlin for its social app.
Just over a year on, though, the company’s progress may have stalled.
“The LA-based startup, which makes an app that lets users stitch together photos and videos into montages up to a minute long, is shopping itself around in hopes of finding a buyer,” reported Recode yesterday.
Social video app Flipagram ended 2015 with more than 1,000 ‘verified’ musicians on its service, according to the company, which said it added 800 in the second half of the year.
Verified artists can use the app to share their own music with fans, as well as making 60-second clips available for fans to include in their own videos – via licensing deals struck with labels and publishers in 2015.
We see a lot of noise around startups getting people to share photos and videos with music, but very few of them get any traction. That’s not something you could […]