In 2018, Facebook launched the Lasso app, a short-form video app designed to compete with the popular platform TikTok. The app allowed users to create and share 15-second videos set to music, similar to TikTok’s signature format. Despite Facebook’s massive user base and resources, Lasso failed to gain traction and was ultimately discontinued in 2020. So, what exactly went wrong with Lasso?
One of the main factors that led to Lasso’s failure was timing. By the time Lasso was launched, TikTok was already a hugely popular platform with a massive user base. TikTok had perfected its algorithm, which was able to recommend videos to users based on their interests, making it highly addictive. In contrast, Lasso lacked an algorithm that could recommend videos to users, and it struggled to gain a foothold in the short-form video market.
Another issue with Lasso was its lack of unique features. While the app had some video editing tools, such as the ability to add filters and effects, it lacked the creative features that made TikTok so popular. For example, TikTok’s Duet feature allowed users to create videos with other users, which fostered collaboration and helped to build a sense of community on the platform. Lasso, on the other hand, lacked similar features, making it less engaging for users.
Another factor that contributed to Lasso’s failure was Facebook’s reputation for mishandling user data and privacy concerns. Many users were hesitant to use Lasso due to concerns about how Facebook would use their data. This lack of trust may have contributed to the app’s inability to gain traction, as users were not interested in using a platform that they did not trust.
Finally, Lasso faced intense competition not only from TikTok but from other social media platforms that were also trying to enter the short-form video market. Instagram, for example, launched its own short-form video feature, Reels, which was heavily promoted on the platform and offered a similar experience to TikTok. With so many options available, it was difficult for Lasso to differentiate itself from the competition.
In conclusion, Lasso’s failure to gain traction in the short-form video market was a combination of factors, including poor timing, lack of unique features, and Facebook’s reputation for mishandling user data and privacy concerns. While Facebook did try to invest in Lasso and add new features, the app ultimately failed to compete with TikTok and other established platforms. The failure of Lasso serves as a cautionary tale for other companies looking to enter the competitive social media market. It is crucial to differentiate oneself from the competition and offer unique features that will engage users and foster a sense of community.
