BUSINESS

Merger of Musical.ly with Bytedance

Cheetah Mobile Inc., is a leading mobile internet company that aims to provide leading apps for mobile users worldwide and connect users with personalized content on the mobile platform, today announced that Bytedance Ltd. (“Bytedance”) and Musical.ly have signed an agreement for Musical.ly to merge with Bytedance.

Musical.ly is a popular social entertainment app in the United States. Bytedance operates a range of content platforms that enable people to connect with, consume, and create content through machine learning technology.

Cheetah Mobile is an early investor of Musical.ly and held approximately 17.4% of equity interest in Musical.ly on a fully diluted and as-converted basis as of December 31, 2016.

About Cheetah Mobile Inc.

Cheetah Mobile is a leading mobile internet company. It aims to provide leading apps for mobile users worldwide and connect users with personalized content on the mobile platform. Cheetah Mobile’s products, including its popular utility applications Clean Master, Security Master and Battery Doctor, help make users’ mobile internet experience smarter, speedier, and safer. Leveraging the success of its utility applications, Cheetah Mobile has launched its line of mobile content-driven applications.

Cheetah Mobile provides its advertising customers, which include direct advertisers and mobile advertising networks through which advertisers place their advertisements, with direct access to highly targeted mobile users and global promotional channels, which are capable of delivering targeted content to hundreds of millions of users. 

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