https://www.theverge.com/2018/10/25/18022160/facebook-tiktok-competitor-lasso-musically-app-lip-sync-live

Facebook is looking to create another standalone app to compete with TikTok, the immensely popular 15-second video app, which recently absorbed Musical.ly after a $1 billion acquisition by Chinese company ByteDance. According to a TechCrunch report, Facebook is trying to win over teens with Lasso, an app where users can record themselves dancing and lip-syncing to music.

A source told TechCrunch, “It’s basically TikTok/Musically. It’s full-screen, built for teens, fun and funny, and focused on creation. A lot of what they’re doing is just trying to be cool.” The report comes on the heels of Facebook’s new music features that launched yesterday, in which the company added music stickers to its Stories feature and rolled out lyrics to its Lip Sync Live feature that already lives within its own app.