Many of you may not have heard of Lasso before, which is one of the reason Facebook is shuttering the service. Facebook launched the service back in 2018, trying to compete is the fast growing market of short-form video content. They will be shutting down the service on July 10th and have advised users to download any videos they have posted that they want to keep.
This doesn’t mean Facebook is giving up on the idea. In fact, they are moving similar efforts over to Instagram to focus on its new Reels feature.
Reels is a video editing tool that lets users record and edit TikTok-style videos which can then be shared via DM, posted to their Instagram Stories or posted to a new section of the Explore tab which they have called Top Reels. Reels were launched in South America in 2019 and has recently been rolled out to France and Germany.
“We place multiple bets across our family of apps to test and learn how people want to express themselves. One of these tests was Lasso, our stand-alone short-form video app, which we have decided to shut down. We thank everyone who shared their creativity and feedback with us, which we’ll look to incorporate in our other video experiences,” a Facebook spokesperson said.
Facebook will also shut down Hobbi on the same day. It is an experimental service the company built to compete with Pinterest, designed to document personal projects. It only launched back in February of this year.