LOS ANGELES — Flipagram, the popular app for creating mini-music videos from your smartphone footage, has been acquired by China’s Toutiao, a news aggregation app with over 60 million users.
No financial terms were announced.
In a news release, Toutiao, which means "top headlines," said the move will help the company expand to the United States and help grow Flipagram by recommending it to its users.
Flipagram, which launched its free app in 2013, says it has over 200 million users. (For background, watch our March 2016 video profile of the company.)
Flipagram founder Farah Mohit tells USA TODAY the company will stay based in Los Angeles and act as an independent company, with access to Toutiao technology.
The acquisition "means we get to continue our mission and build out the vision we started," Mohit says. The Toutiao "relevance engine" matches content in China with users' interest and makes customized feeds "based on their behavior," he adds. "That's what we've been missing. It's a great match."
The Chinese tech firm started as a news aggregator, and but is looking to expand its reach, Mohit adds. With 10 million new Flipagram videos created each month, "our problem is who should see those videos," he says. "Having those data scientists helping us will be a great benefit."
Follow USA TODAY's Jefferson Graham on Twitter, @jeffersongraham.
(© 2017 USA TODAY)