Reddit buys TikTok rival Dubsmash
Tom Schmidtgen
| 14.12.2020
American social platform Reddit has bought Dubsmash. Details of the deal were not disclosed. However, Dubsmash is to remain independent as a brand. Founders Suchit Dash, Jonas Drüppel and Tim Specht will work for Reddit in the future.
Dubsmash launched in Berlin in 2014 and quickly became an internet hit. Users could pretty easily create videos in which they moved lips in sync with music, and then send them. Three years ago, the startup moved to New York and changed the concept. Dubsmash is no longer just a video editing app, but sees itself as a social network.
So far, Dubsmash has been able to raise $20 million in capital. That's why the Reddit acquisition was likely worth millions as well. Dubsmash was second in video app installs in the US behind TikTok earlier this year. As such, the app is considered the biggest competitor to the Chinese platform.
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