Sign up for our daily briefing

Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Denver news in your inbox

Catch up on the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Des Moines news in your inbox

Catch up on the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Minneapolis-St. Paul news in your inbox

Catch up on the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tampa Bay news in your inbox

Catch up on the most important stories affecting your hometown with Axios Tampa Bay

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Charlotte news in your inbox

Catch up on the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Photo: Rafael Henrique/SOPA Images/LightRocket via Getty Images

Reddit has acquired Dubsmash, the short-form video app akin to TikTok, the company said in a statement provided to Axios. Deal terms were not disclosed.

Why it matters: The deal marks the latest move by a tech platform to invest in a TikTok-like video feature. Snapchat last month launched its TikTok competitor, called Spotlight. Facebook launched its competitor, called Reels, in August.

Flashback: Facebook and Snapchat were reportedly in talks to buy Dubsmash earlier this year.

Details: Reddit said in a statement that Dubsmash will maintain its own platform and brand, but its video creation tools will be integrated into Reddit.

  • Dubsmash’s entire team, including its three co-founders — Suchit Dash, Jonas Drüppel and Tim Specht — will join Reddit.
  • The Information first reported about the deal Sunday evening, prior to the company’s planned announcement on Monday.

What they're saying: Reddit cited Dubsmash’s mission to elevate under-represented creators as a key part of the reason it wanted to buy the company.

  • ”Dubsmash elevates under-represented creators, while Reddit fosters a sense of community and belonging across thousands of different topics and passions," said Reddit CEO Steve Huffman.
  • According to the statement, 25% of all Black teens in the U.S. are on Dubsmash, and 70% of its users are female.

The big picture: Reddit launched a native video player​ in 2017, but video still isn't the main format on its platform. In the statement, Reddit said Dubsmash enables more than one billion video views a month.

Go deeper

Updated Jan 11, 2021 - Technology

All the platforms that have banned or restricted Trump so far

Illustration: Sarah Grillo/Axios

Platforms are rapidly removing Donald Trump’s account or accounts affiliated with pro-Trump violence and conspiracies, like QAnon and #StoptheSteal.

Dan Primack, author of Pro Rata
52 mins ago - Podcasts

Net neutrality on the line under Biden

Federal net neutrality rules are back on the table in the Biden administration, after being nixed by Trump, but now might be complicated by the debate over social media companies' behavior.

Axios Re:Cap digs into why net neutrality matters and what comes next with Nilay Patel, editor-in-chief of The Verge and host of the Decoder podcast.

House grants waiver for retired Gen. Lloyd Austin to lead Pentagon

Defense Secretary nominee Lloyd Austin Photo: Chip Somodevilla/Getty Images

The House voted 326-78 on Thursday to grant retired Gen. Lloyd Austin a waiver to lead the Pentagon, clearing the way for the Senate to confirm President Biden's nominee for defense secretary as early as this week.

Why it matters: Austin's nomination received pushback from some lawmakers, including Democrats, who cited a law that requires officers be out of the military for at least seven years before taking the job — a statute intended to reinforce the tradition of civilian control of the Pentagon.