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Reddit Acquires TikTok Rival Dubsmash

Tech World

Dec. 14, 2020, 2:50 p.m.

Social news platform Reddit, has acquired TikTok’s rival Dubsmash, a video-sharing app and it is yet to make an official announcement later today.

This new acquisition is in the hopes of getting users to natively upload videos to the site as opposed to embed links from other video platforms.

Dubsmash’s creation tools will be integrated into Reddit while still maintaining their own platform and brand.

“Both Reddit and Dubsmash share a deep-rooted respect for how communities come together. Dubsmash elevates under-represented creators, while Reddit fosters a sense of community and belonging across thousands of different topics and passions. It’s clear that our missions closely align and that our community-focused platforms can coexist and grow as we learn from each other,” Steve Huffman, Reddit CEO said in the company’s official blog.

Dubsmash is a New York-based short-form video platform with 25% of its users being Black teens and 70% being female users.

While TikTok is a home for white talented creators, Dubsmash serves as a haven for Black and Latinx creators.

About 30% of users log in every day to create video content, indicating a high level of retention and engagement, and Dubsmash enables more than one billion video views per month, demonstrating the strength of its communities.

In January this year, the app pulled 27% of the U.S short-form video market in terms of installs – coming in second to TikTok’s 59%.

Dubsmash co-founders Tim Specht, Suchit Dash, Jonas Drüppel and the entire team will join Reddit once the deal is through.

“In our years of building Dubsmash, we’ve learned how video can spark creativity, unlock interactions, and deepen connections within communities. We want to continue our journey to bring best in class video products to our users, and now Reddit users. We believe in the idea of connecting creators around interests and topics, something Reddit has pioneered, in our growing Dubsmash community,’ said Suchit Dash, Head of Dubsmash.

There has been no disclosure with regards to the financial terms of the stock and cash deal.

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Verny Joy Author

Verny loves to write poetry, fiction and quotes. Her love for writing landed her in journalism. She loves gadgets and travelling to explore new places.

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