11/10/2018, 3:27 AM (Source: TeleTrader)
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Facebook launches Lasso

Facebook Inc. launched Lasso, an application allowing its users to create and share short videos. The application is designed to compete with TikTok, a Chinese social media app for making and broadcasting short videos clips similar to the Vine format.

"Lasso is a new standalone app for short-form, entertaining videos — from comedy to beauty to fitness and more. We’re excited about the potential here, and we’ll be gathering feedback from people and creators," Facebook said in a statement.

The social media company has been struggling with a decrease in popularity among younger users, as only half of the teens aged between 13 and 17 years in the United States use the network according to a Pew Research Center's 2018 survey. A previous poll from 2015 had the number at 71%, making Facebook the most popular social media platform at the time.

Breaking the News / MD