Reddit to Acquire TikTok Rival Dubsmash, Users Will Get Short-Video Editing and Creation Tools

Social community agency Reddit mentioned on Sunday that it might purchase short-video platform Dubsmash, turning into the newest firm to broaden in an area dominated by Chinese-owned TikTok. The monetary phrases of the deal weren’t disclosed, however a spokeswoman for Reddit mentioned the acquisition was primarily based on a mixture of money and inventory. The success of ByteDance’s TikTok has prompted many social media corporations to add short-video providers to their platforms, with Snapchat rolling out Spotlight in November and Facebook launching Instagram Reels earlier this yr.

Reddit mentioned in a weblog submit that the deal would give its customers, who can already add and stream movies, entry to Dubsmash’s modifying and short-video creation instruments. The San Francisco-based firm added that Dubsmash would keep its personal platform and model. Dubsmash’s complete crew, together with co-founders Suchit Dash, Jonas Drüppel and Tim Specht, will be part of Reddit.