Business/Tech
Reddit will compete with TikTok using Dubsmash after official acquisition
Reddit announced the purchase of Dubsmash, in order to enter the market for short videos dominated by the Chinese app TikTok.
The Dubsmash app was created in Berlin and launched in 2014. The product is available for iOS and Android. Now, social media users will be able to upgrade Dubsmash because Reddit bought it and will modernize it to compete with TikTok.
Teamwork makes the dream work! We’re thrilled to share our acquisition of video platform @Dubsmash. Reddit is where communities come together to discuss their favorite topics & video is an integral part of this discourse.
Here’s how we’ll work together.👇 https://t.co/Oq6NuEnYHt
— Reddit (@reddit) December 14, 2020
Reddit announced the purchase of Dubsmash, in order to enter the market for short videos dominated by the Chinese app TikTok.
Dubsmash was launched in 2014, and now, it will maintain its own brand and platform, but Reddit will integrate video creation tools. So far, the value of the purchase has not been disclosed.
Reddit will be powered by Dubsmash
By purchasing Dubsmash, Reddit broadens its horizons, in order to increase its popularity with younger audiences.
“Video is increasingly critical to the way people want to connect,” Reddit noted on his blog. “Dubsmash’s mission is to elevate underrepresented creators.”
“It’s clear that our missions are closely aligned and that our community-centric platforms can coexist,” said Steve Huffman, CEO of Reddit. “Both can grow as we learn from each other.”
Dubsmash’s inventors are Jonas DrĂĽppel, Roland Grenke, and Daniel Taschik. The three German entrepreneurs who launched the product in November 2014. They quickly reached the top of the local app rankings in Berlin.
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