7/2, 8:20 AM (Source: TeleTrader)
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Facebook to shut down its TikTok rival app Lasso

Facebook announced it will be shutting its application Lasso on July 10 to focus on its similar feature Instagram Reel.

The tech giant launched Lasso in November 2018 to compete with TikTok, a Chinese social media app for making and broadcasting short video clips. The app was available only in the United States and ten other countries, all in Latin America, and recently added support in Hindi, but did not fully expand in India before its suspension.

TikTok currently has over 800 million active users worldwide. The app was recently banned from India over alleged security worries amid the disputes between the country and China.

Breaking the News / JR