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Lasso is a video sharing application similar to Musical.ly and TikTok. Created by Facebook The app allows users to make simple music videos, giving them a 15-second recording limit, editing tools and a list of background music to select.
On October 25th, 2018, TechCrunch reported that Facebook would be releasing a TikTok competitor. According to the report, the product was developed by Facebook's video and watch teams, led by Brady Voss, who previously worked on Facebook's TV application.
Roughly three weeks later, on November 9th, Facebook released Lasso on the iOS and Android app stores. That day, Facebook product manager Bowen Pan tweeted,  "Today, my team launched Lasso (@lassovideos), a new video app that lets you create short, fun videos and share them with friends" (shown below).
In a statement to the Verge, Facebook said, "Lasso is a new standalone app for short-form, entertaining videos -- from comedy to beauty to fitness and more. We’re excited about the potential here, and we’ll be gathering feedback from people and creators."
Much like TikTok, Lasso allows users to make short, 15-second videos. After signing in through their Facebook or Instagram account, users are greeted by the app's recommended videos. If they slide their finger across the screen to the left, users can browse "Today's Top Creators" and hashtags.
If users wish to record videos, they can choses the speed of their video and the music. When the user removes their finger from the record button, the video stops and the user can begin recording again from the last edit point.
 TechCrunch – Facebook is building Lasso, a video music app to steal TikTok’s teens
 Twitter – @bowenpan's Tweet
 The Verge – Facebook quietly launches a TikTok competitor app called Lasso
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Nov 14, 2018 at 07:31PM EST
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