Facebook introduced its short-form video app called Lasso. Where users can shoot and record themselves dancing and lip-syncing to music, as they can already do on TikTok. Lasso also lets users record short clips like Vines.
Facebook will face tough competition because the market is captured by its rival Tik-Tok, as the latter is extremely popular among users in the country.
Furthermore, We may see the integration of Lasso with Whatsapp, hinting at big plans from Facebook’s end regarding the short-form video app.
“Facebook Singapore has been working with a dedicated team prepare for the launch since October,” as per the internal sources.
TikTok has been eating up a decent market share of Facebook in India, youth seems less interested in Facebook as compared to 4-5 years earlier and the social media giant is gearing up to take his share back.
The company is working with a competitive strategy to bring creators on board and lure influencers to switch from TikTok to the new app. “Lasso is looking at onboarding short video influencers and celebrities by promising a minimum amount which is much higher as compared to what TikTok offers them right now.
Lasso app was launched in the US last year, and since its release, it has been downloaded more than a million times on Google Play Store. As per the source, Facebook looks to launch Lasso in other emerging markets like Indonesia as well.