Reddit buys TikTok rival Dubsmash
The American social platform Reddit has bought Dubsmash. Details of the deal were not disclosed. However, Dubsmash will remain an independent brand. The founders Suchit Dash, Jonas Drüppel and Tim Specht will work for Reddit in the future.
Dubsmash was launched in Berlin in 2014 and quickly became an internet hit. Users could easily create videos in which they moved their lips in sync with music and then send them. Three years ago, the start-up moved to New York and changed the concept. Dubsmash is no longer just a video editing app, but sees itself as a social network.
To date, Dubsmash has raised 20 million dollars in capital. The takeover of Reddit is therefore also likely to have been worth millions. At the beginning of the year, Dubsmash was in second place behind TikTok in terms of video app installations in the USA. This makes the app the biggest competitor to the Chinese platform.
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