Facebook’s TikTok rival Lasso to shut down this month
Facebook announced that it is shutting down Lasso, the TikTok rival, video app it launched back in 2018. It also plans to bring curtains down on Hobbi, the Pinterest rival. The company plans to shut both these platforms on July 10.
Reports indicate that the social network giant has begun sending notifications to its Lasso app users informing them that the app will no longer be usable after July 10 and also further advised them to download the videos that they want to keep. Lasso issued a push alert to users telling them that it will be shutting down. Hobbi also issued a push alert to users letting them know that it was closing down soon.
Lasso, the more popular one, allows users to record up to 15 seconds long videos and overlay music on top.
Facebook is likely shutting down Lasso as it is expanding the rollout of a TikTok-like feature called Reels. The company plans to shift focus to Reels. Reels is also a video editing tool that lets users record and edit 15 seconds videos which they can then post to their Instagram Stories, send through DM, or post to a new section called Top Reels. Reels launched in Brazil last year and expanded to France and Germany at the end of last month.
A Facebook spokesperson said, “We test apps. One of these tests was Lasso, our video app, which we have decided to shut down and remove from all app stores on July 10. We thank everyone who shared their creativity and feedback with us, which we’ll look to incorporate in our other video experiences.”
Lasso was available to users in Colombia, Mexico, US, Argentina, Chile, Peru, Panama, Costa Rica, El Salvador, Ecuador, and Uruguay.
As per Sensor Tower estimates Lasso has generated more than 10 million downloads from the App Store and Google Play. According to Google Play, Lasso has been installed more than 5 million times. The iOS version of the app is available in English, Portuguese, Spanish, Thai, and Hindi.
However, according to analytics firm App Annie, Lasso had lesser than 80,000 daily active users on Android in Mexico as on June 1.
Many companies over the past few years have tried to build an app to compete with TikTok as TikTok has been downloaded more than two billion times. But all of these attempts to create a similar app remained unsuccessful. The only real competitor that survived was the Vine app that Twitter paused years ago. And now there is a new app called Byte, developed by Vine co-founder Dom Hofmann is available on both Android and iOS platforms.