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Reddit acquires TikTok’s rival Dubsmash
December 14, 2020
Reddit reported that it has gained short video platform Dubsmash. The arrangement’s terms were undisclosed. Dubsmash will hold its own foundation and brand, and Reddit will coordinate its video creation instruments. Its fellow benefactors, Suchit Dash, Jonas Drüppel, and Tim Specht, will join Reddit.
As indicated by Crunchbase information, the application has raised $20.2 million from financial specialists including Lowercase Capital, Index Ventures, Eniac Ventures, Heartcore Capital, and Sunstone Life.
Dubsmash is presently probably the greatest opponent, however, battled for quite a long while after a concise stretch of prominence in 2015 during its first manifestation as a lip-sync video application. In 2017 it started changing itself into a social platform and moved its base camp from Berlin to Brooklyn. By the start of this current year, a lot of the United States’ short-structure video market was second just to TikTok when tallied by application installs, and it supposedly held obtaining chats with Facebook and Snap.