Facebook Chases Tiktok (Again) With a New Instagram Feature

Facebook (NASDAQ: FB) launched Lasso, a short video app that closely resembled ByteDance's TikTok, back in late 2018. But Lasso never gained much steam, and the app had fewer than 80,000 users in Mexico (its top market) at the beginning of June, according to App Annie.

Brady Voss, the lead product designer who oversaw Lasso's development, also left Facebook just a few days after its launch. Therefore, it wasn't surprising when Facebook recently discontinued the app.

Image source: TikTok.

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Source Fool.com