Popular video and photo video slideshow app Flipagram has been acquired Toutiao, a Chinese news and information app, for an undisclosed amount.
As part of the deal, the pair say they will work together to enhance Flipagram’s network via Toutiao’s content recommendation engine, increase distribution of Flipagram’s videos through Toutiao properties globally, and explore other Flipagram integrations.
Toutiao says that it aims to expand its footprint in the US and intends to ‘invest in and grow the Flipagram team’.
“We have been striving to enhance the efficiency of information communication. We hope… Toutiao will bring something different to Flipagram,” said Yiming Zhang, founder and CEO of Toutiao.
Farhad Mohit, Flipagram co-founder and CEO, added: “Since the launch of our free app in late 2013, Flipagram has been one of the most popular mobile video creation apps in the world. We pioneered the licensed use of music clips in user generated videos, and have enabled hundred of millions of users around the world to create and share amazing video stories, with just their phones. Today we are thrilled to take the next step in our journey.”