Facebook is planning to shut down its TikTok copycat Lasso, after the year-and-a-half-old app failed to take off with young users. Facebook has reportedly decided to shut down its social media app LassoIts decision comes as more than 400 companies boycott the platform. 'One of these tests was Lasso, our stand-alone short-form video app, which we have decided to shut down and remove from all app stores on July 10. Lasso was launched as a direct competitor to China-based TikTok, but failed to take offFacebook has often crushed its rivals by imitating their features. Facebook said last year that its top 100 advertisers accounted for less than 20 per cent of total ad revenue.

Source: Daily Mail July 02, 2020 09:21 UTC