Social Music App Eyegroove Shuts Down, Team Joins Facebook. Should Musical.ly, Dubsmash Be Worried?
Eyegroove had raised $3.5 million in funding from angel investors including Matt Papakipos, Roger McNamee, Amarjit Gil, and Bill McLean. Now the majority of its dozen or so staffers are joining Facebook "to work on new experiences for people to create, share, and connect."
Facebook did not acquire the tech behind Eyesore and is not currently planning to launch a similar product, a source tells Techcrunch. The Eyeshore team could be adding their skills to Facebook's rapidly expanding video efforts.
But Musical.ly, in particular, has proven hugely popular, and if you've followed how often Facebook has cloned or taken inspiration from Snapchat and other competitors, Musical.ly and Dubset should be watching Facebook's next moves very closely.