The social media tycoon, Facebook has launched a new app called Lasso. The app is very similar to TikTok, a fun video app which recently merged with the famous Musical.ly.
While Facebook continues to lose its fan following among teens, Lasso seems like an experiment to do some damage control.
Facebook is now over fourteen years old. The first few generations have passed sharing pictures and posts, the current generation is giving it a pass. It’s a huge threat to the existence of Facebook. So, the answer is Lasso.
We have evaluated the whole scenario, and here are our top 7 reasons why Facebook launched Lasso.
The Losing Fanfare
Facebook continues to enjoy a loyal fan following among millennials, but it continues to deteriorate. The platform has tried to fix it up according to the changing trends, but things are not falling into place for Facebook. While its other two owned companies: Instagram and WhatsApp continue to grow, Facebook is losing millions of users every quarter
Working With The Trending
Facebook couldn’t match up to the trends, so now it has launched something similar to what’s trending. Just like TikTok, on Lasso, you can record yourself dancing and lip-syncing, the same you can do on the former. Lasso is for short entertaining videos, properly segmented for users and creators.
Connecting Facebook & Lasso
You can log in to Lasso with your Facebook account with instant personalization. You can also link your Lassos to Facebook Stories and Instagram, so that you can instantly share something on Facebook and Instagram directly. So you can clearly see what Facebook is trying to do care by creating a cross-platform network. The company aims to increase user time, from wherever possible.
TikTok Is Bigger Than Facebook, Instagram, Snapchat & YouTube
After Musical.ly was acquired by Chinese tech giant ByteDance, the app was re-released as TikTok. The app since then has been on a roll. TikTok surpassed Facebook, Instagram, Snapchat and YouTube in terms of total downloads last month. This is something which might have definitely scared Facebook given the long term graph.
Facebook’s Two Teen-Focused Apps Already Failed
Facebook previously experimented with teen-focused standalone apps like Slingshot and Poke. Both tried to copy elements from other famous apps, but failed miserably following a similar strategy as Lasso. While Instagram, Facebook and WhatsApp have been successful at cloning up the Stories from Snapchat, we need to see how Lasso takes up TikTok.
Facebook continues to lose user time, and it’s almost half now compared to three years back. From its other two hit companies, only Instagram is bringing positive revenue and WhatsApp will finally start supporting ads. So, its current crop is Instagram bringing in money. So, it does make sense for Facebook to copy a famous app in order to do some damage control for itself.
Can Lasso Do It?
That’s the golden-marked question. Lasso is already late to the scene, while TikTok already enjoys a massive fanfare. Facebook left no stone unturned this time. Lasso already has a ton of content available, so new users won’t feel left out, like it did with Facebook Watch. Let’s see how users take it and embrace the new TikTok.
Edit 1: This app is not available for users in India as of now.