Reddit announced today that the company has acquired Dubsmash, a TikTok rival. Over the past few years, TikTok has again gained immense popularity.
TikTok popularity shows that short video content is growing and gaining attention. Many companies came forward to make their own version of TikTok. Some of these companies include YouTube with YouTube shorts, Instagram with Reels. Apart from this big corporation, there are many Indian homegrown apps competing in the same space.
Social media platform Reddit now aims to compete in the same space. For this, they announced that they have acquired Dubsmash.
For those who don’t know there was, back in 2015 Dubsmash started this lip-syncing trend. The app was hugely popular when it was launched in 2015. But slowly lost its ground to other apps especially TikTok.
Users can create short videos in Dubsmash by lip-syncing their favorite songs or movie scenes.
Reddit didn’t reveal the acquisition terms in this deal but some reports suggest that it was a cash and stock deal. After this deal, Dubsmash staff including the co-founders Suchit Dash, Jonas Drüppel, and Tim Specht will become the Reddit staff.
Both the apps will work as a separate platform as of now. With this now the social media company will allow users to upload creative content. In the coming months, the company will merge Dubsmash’s video and editing tool into its app.
As per the Reddit announcement:
“It will empower Reddit’s own creators to express themselves in original and authentic ways that are endemic to our communities”.
Regarding the Dubsmash app, the company claims it will not shut down the app.
“While Dubsmash will maintain its own platform and brand, we also look forward to bringing our teams together to combine the unique creator experience of Dubsmash with the community growth engine of Reddit”.
As per the Reddit Official Blog:
“Dubsmash provides a welcoming platform for creators and users who are under-represented in social media,”. Dubsmash is still popular in the US as it came second after TikTok. It is the second most used short format video app in the US after TikTok. According to the report, 25% of the black teens use Dubsmash while 70% of the total users of Dubsmash are females.
A few months back there are reports that both Facebook and Snapchat approached Dubsmash for the acquisition. But Reddit finalizes the deal with the short video app.
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