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Reddit to buy TikTok rival Dubsmash

Reddit to buy TikTok rival Dubsmash.   | Photo Credit: Reuters

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Social network firm Reddit said on Sunday it would buy short-video platform Dubsmash, becoming the latest company to expand in a space dominated by Chinese-owned TikTok.

The financial terms of the deal were not disclosed, but a spokeswoman for Reddit said the acquisition was based on a combination of cash and stock.

Also Read | TikTok alternatives rise in US as Trump bans the Chinese app

The success of ByteDance's TikTok has prompted many social media companies to add short-video services to their platforms, with Snapchat Inc rolling out “Spotlight” in November and Facebook Inc launching “Instagram Reels” earlier this year.

Reddit said in a blog post that the deal would give its users, who can already upload and stream videos, access to Dubsmash's editing and short-video creation tools.

The San Francisco-based company added that Dubsmash would maintain its own platform and brand.

Also Read | Analysis of Reddit posts show pandemic’s impact on mental health

Dubsmash's entire team, including co-founders Suchit Dash, Jonas DrŶppel and Tim Specht, will join Reddit.


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Printable version | Sep 28, 2021 4:18:48 PM | https://www.thehindu.com/sci-tech/technology/internet/reddit-to-buy-tiktok-rival-dubsmash/article33324892.ece

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