Reddit reports that it has acquired a short-lived video application and TikTok rival Dubsmash. It did not disclose the terms of the agreement. Reddit is where passionate communities come together for authentic conversations about what matters to them. The deal marks the final step in a technology platform to invest in TikTok-style video functionality.
Dubsmash is now one of TikTok’s main rivals but struggled for many years after a brief passage of reputation in 2015 during its first incarnation as a lip-sync film app. At the beginning of this year, Dubsmash’s share of the US fast video market was right next door to TikTok when it was counted by app facilities, and it reportedly held acquisition talks with Facebook and Snap. It is a very popular short-form video platform (1 billion views per month) in the United States with 25% of its users being black teenagers and 70% being female users.
Through the agreement, Dubsmash will retain its possession system and brand, and Reddit will combine its video authoring resources and its Co-founders, Suchit Sprint, Jonas Drüppel and Tim Specht, will move to the part of Reddit.
As of October of this year, Reddit counted on average 52 million active users per day. Reddit hopes this new acquisition will make it possible for users to upload videos natively to the site rather than embedding links from other video platforms.