The parent company Snapchat bought Voisey application, writes Business Insider. It allows performers to record small videos by changing the voice and adding music.
The terms of the transaction are not disclosed. According to PitchBook, the estimate of Voisey is about $3 million. The publication stresses that the music application "amazingly similar to TikTok" in terms of interface.
Voisey users can record their vocals, add effects and glue them to a collection of bits inside the application. The maximum clip length is 60 seconds. As in the case with TikTok, publications can be liked and commented on.
Purchase of the service by Snap company may indicate that soon new music functions identical to Voisey capabilities will appear inside Snapchat.
The purchase of the app comes after Snap has entered into licensing agreements with several major record labels. It allows Snapchat users to add music to their publications.