Reddit Will Buy Dubsmash

Social network platform Reddit announced on Sunday that it would buy short-video platform Dubsmash, becoming the latest firm to expand in a space dominated by Chinese giant TikTok.

Social network platform Reddit announced on Sunday that it would buy short-video platform Dubsmash, becoming the latest firm to expand in a space dominated by Chinese giant TikTok. 

According to a Business Insider report, while the financial terms of the deal between the two companies were not disclosed, a spokeswoman for Reddit told the media outlet in an emailed statement that the acquisition was based on a combination of cash and stock.

Reddit pointed out in a blog post that the deal would give its users, who can already upload and stream videos, access to Dubsmash’s editing and short-video creation tools. The social network firm also said that Dubsmash would maintain its own platform and brand.

On Twitter, tech expert Ari Lev said that the absolute success of ByteDance’s TikTok has prompted many social media firms to add short-video services to their platforms, with Snapchat rolling out “Spotlight” in November and Facebook launching “Instagram Reels” earlier this year.


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