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Dec 13, 2020 - Economy

Reddit acquires TikTok rival Dubsmash

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The Reddit logo.

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.

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