Facebook's planned TikTok rival, Lasso, to shut down
MANILA, Philippines – One Facebook take on the short-form video sharing app, Lasso, is shutting down.
According to a Techcrunch report, Lasso sent users a notification the app would be closed on July 10.
Launched in 2018, Lasso lets users shoot videos of up to 15 seconds, with songs overlaid on the video, much like TikTok.
TechCrunch adds the rollout of Lasso appeared to be rather limited, as the service was "available in Colombia, Mexico, the U.S., Argentina, Chile, Peru, Panama, Costa Rica, El Salvador, Ecuador, and Uruguay," based on information from research firm Sensor Tower.
It appears Facebook is betting on a separate app to do the job of dethroning TikTok that Lasso wasn't able to do: Instagram Reels.
Instagram Reels also allow users to make 15-second clips set to music, which will then be shared on Instagram as a story, though Reels is looking to get a noticeable userbase bump from Lasso as there are about 1 billion monthly active users of Instagram, according to Statista. – Rappler.com