Musical.ly, the lip-syncing video app, is going to sell for at least $800 million

The Chinese company is three years old, and it took off like a rocket. Now it may have slowed. Three years ago, Musical.ly didn't exist. Now the app, which lets teens make videos of themselves lip-syncing, is set to sell for at least $800 million. The Shanghai-based company has agreed to sell to Jinri Toutiao, a Chinese media startup that had already bought Flipagram, which competed to some degree with Musical.ly, earlier this year. The deal hasn't closed yet, but Bloomberg pegs the price at $80...